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Unemployment in Greece Now Lowest Since 2009

Greece unemployment
People shop in Varvakios Market in Athens. Credit: Dimitra Damian/Greek Reporter

The unemployment rate in Greece eased to 10.8% in January, down from 12.4% in December, data from the statistics service ELSTAT showed on Thursday.

The reading was the lowest since December 2009 – at the start of Greece’s decade-long economic crisis – following the revision of last month’s figure.

UNemployment Greece
The unemployment rate in Greece 2009-2023. Credit: ELSTAT

More specifically, the number of unemployed people totalled 501,948, down 134,764 or 21.6% compared with January 2022, and was lower by 87,686 or 14.9% compared with December 2022.

The unemployment rate among women fell to 13.9% from 18.3% in January last year, while among men it fell to 8.3% from 10%, according to ELSTAT.

Unemployment is higher among young people in Greece

The unemployment rate in the 15-24 age group was 28.1% in January 2023 from 37% in the same month last year, while in the 25-74 age group it fell to 9.8% from 12.5%.

The number of employed people was 4,145,529, up 2.9% from January 2022 and down 0.6% from December 2022.

Unemployment peaked in the summer of 2013 and has been falling steadily since.

Joblessness was more widespread among women than men, with the rates at 13.9% and 8.3%, respectively.

The Greek government expects the jobless rate to ease to 12.6% in 2023 from 12.7% in 2022, with the economy seen growing by 1.8%.

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