Greece's unemployment rate decreased to 16.8 percent in July of 2020 from a downwardly revised 18 percent in the previous month, which was he highest since March. Although in July the suspension of the operation of businesses that had been applied in the past months, in the context of the measures taken to protect public health and tackle the COVID-19 pandemic, were lifted, specific regulatory measures were implemented regarding the operation of businesses, which affected the functioning of the market. The number of unemployed people fell by 69,395 from June, or 8.2 percent, to 773.6 thousand, while employment rose by 10,700, or 0.3 percent, to 3.844 million. By region, the highest rates were recorded in Crete (20.9 percent), Epirus-Western Macedonia (20.2 percent), Peloponnese, Western Greece & Ionian Islands (19.6 percent) and Aegean Islands (19.6 percent).
Unemployment Rate in Greece averaged 16.28 percent from 1998 until 2020, reaching an all time high of 27.90 percent in July of 2013 and a record low of 7.40 percent in May of 2008. This page provides the latest reported value for - Greece Unemployment Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Greece Unemployment Rate - data, historical chart, forecasts and calendar of releases - was last updated on October of 2020.
Unemployment Rate in Greece is expected to be 20.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Unemployment Rate in Greece to stand at 18.20 in 12 months time. In the long-term, the Greece Unemployment Rate is projected to trend around 17.40 percent in 2021 and 16.00 percent in 2022, according to our econometric models.