Greek Jobless Rate Drops to 8-Year Low of 17.2%

The seasonally adjusted unemployment rate in Greece edged down to 17.2 percent in May 2019 from a downwardly revised 17.4 percent in the prior month and compared with 19.4 percent in May of 2018. It was the lowest jobless rate since May of 2011.
ELSTAT | Luisa Carvalho | 8/8/2019 9:56:00 AM
Compared with the previous month, the number of unemployed decreased by 10.9 thousand, or 1.3 percent, to 815 thousand while the number of employed persons rose by 6.2 thousand, or 0.2 percent, to 3.923 million.

A year before, the jobless rate was recorded at 19.4 percent. The number of unemployed persons declined by 108.1 thousand, or 11.7 percent while employment went up by 82 thousand, or 2.1 percent.

Unemployment decreased for all age groups but continued to hit more young people aged 15-24 years (33.8 percent vs 38.9 percent) and the 25-34 age group (23.6 percent vs 24.0 percent). Lower rates were mainly registered in the 35-44 age group (15.3 percent vs 17.8 percent); the 45-54 age group (14.2 percent vs 16.4 percent); the 55-64 age group (13.3 percent vs 15.4 percent) and the 65-74 age group (11.0 percent vs 11.4 percent). 

By genders, the jobless rate was lower for men (14.0 percent from 15.6 percent in May 2018) than for women (21.2 percent vs 24.1 percent).

Across the country's regions, the lowest unemployment rates were observed in Crete (9.3 percent), Aegean Islands (13.2 percent) and Attica (17.0 percent). On the other hand, Epirus-Western Macedonia recorded the highest rate (20.2 percent).

Greek Jobless Rate Drops to 8-Year Low of 17.2%