Greece: Unemployment rate dips to its lowest since April 2011 in August
The number of unemployed workers fell by 9,932 in August compared to July while the seasonally-adjusted unemployment rate slid to 16.7% from 16.9% in the previous month, according to data released by the Hellenic Statistical Authority (ELSTAT). August’s reading was the lowest since April 2011 and below that of the same month in 2018 (August 2018: 18.9%).
Greece’s unemployment rate has fallen steadily in recent years, since peaking at around 28% in the summer of 2013. However, it remains the highest in the Eurozone by far.
Meanwhile, youth unemployment—categorized by individuals between the ages of 15-24—came in at 33.1% in August, below August’s 2018’s 37.6%.