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Greece’s unemployment rate at 18.5%, youth with out job at 39.1%

Greece’s unemployment rate dropped to 18.5 pct in November 2018 from 21.1 pct in November 2017 and 18.7 pct in October 2018, the Hellenic Statistical Service (ELSTAT) said in a report on Thursday.

Youth unemployment (age group 15-24) remains high with 39.1 pct.

Seasonally adjusted, the number of employed in November 2018 amounted to 3,865,670 persons, with unemployed totalling 875,195 and inactive persons (i.e. persons neither working nor looking for a job) totalling 3,218,868. The corresponding figures for November 2017 were 3,727,104 (employed), 995,782 (unemployed) and 3,277,204 (inactive).

In November 2018 the number of employed persons increased by 138,566 persons compared with November 2017 (a 3.7% rate of increase) and by 30,010 persons compared with October 2018 (a 0.8% rate of increase), ELSTAT said.

The number of unemployed persons decreased by 120,587 persons compared with November 2017 (a 12.1% rate of decrease) and by 5,948 persons compared with October 2018 (a 0.7% rate of decrease), while the number of inactive persons decreased by 58,336 persons compared with November 2017 (a 1.8% rate of decrease), the statistical authority said.

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One comment

  1. These statistics may be meaningful, or not. The question is how many of those new 138,000 jobs pay anything near a living wage. Or do you have to live with your parents or depend on your grandfather’s pension in order to survive on what they pay?

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