Unemployment at 15-year low

Unemployment has returned to a single-digit rate for the first time in 15 years, as on Wednesday the Hellenic Statistical Authority (ELSTAT) recorded a jobless rate of 9.6% in June, compared to 11.4% in June 2023.

Although we will have to wait for the seasonally adjusted data to statistically verify the positive climate in which the Greek labor market seems to be moving, the ELSTAT data show not only a decrease in unemployment but also an increase in employment. It should be noted that in October 2023, ELSTAT had initially observed a drop in unemployment below the psychological limit of 10%, but the seasonally adjusted results overturned the picture. Therefore, based on the official data, the last time unemployment was below 10%, specifically at 9.3%, was in September 2009.

Figures show a significant drop in the unemployment rate by 1.8 percentage points compared to...