Greece’s October 2019 Unemployment Rate Drops

Greece’s jobless rate continued to drop in October 2019 to 16.6 percent from 16.8 percent the previous month, achieving the lowest level since April 2011 but still the highest in the EU, the Hellenic Statistical Authority (ELSTAT) said this week.

More specifically, according to ELSTAT data, the number of employed persons in October 2019 came to 3,926,163. The figure increased by 65,570 people compared to the same month in 2018, marking a 1.7 percent rise.

In total for October, there were 780,913 unemployed – primarily women and young adults. The figure dropped by 98,069 persons against October 2018, an 11.2 percent decline.

In the 15-24 age group, unemployment eased to 35.6 percent in October against 39.4 percent in the same month a year earlier.

In the 25-34 age bracket, joblessness is at 22.3 percent.  

On the downside, ELSTAT data reveals that unemployment among women is higher at 20.2 percent compared to males at 13.7 percent, with the highest jobless rate among females in Epirus – Western Macedonia (19 percent) and the lowest on Crete at 11.9 percent.

Unemployment levels in Greece soared in September 2013 in the midst of the economic crisis to 27.8 percent. According to forecasts based on a projected growth rate of 2.8 percent in 2020, joblessness is expected to drop this year to 15.6 percent from 17.4 percent in 2019.