Unemployment in Greece has dropped to its lowest level since 2008, falling to 8.7 percent in January 2025 while youth unemployment remains a challenge standing at more than double the national average, the Hellenic Statistical Authority (ELSTAT) reported on Tuesday.
The jobless rate stood at 9.3 percent in December 2024 and 11.7 percent in January 2024, reflecting a steady decline.
The positive trend was driven by increased employment, with the total number of Greece’s workforce reaching 4,288,284, reflecting a 1.5 percent year-on-year rise and 0.2 percent monthly increase. At the same time, the number of unemployed individuals fell sharply to 408,181, recording a 26.8 percent annual decrease. However, the number of people that are economically inactive (meaning they are nor working neither actively seeking employment) rose to 3,066,282, marking a two percent increase compared to January 2024.
“The remarkable progress was the result of targeted policies that boost growth and investment, creating more and more well-paid jobs,” Greek Prime Minister Kyriakos Mitsotakis said.
Despite unemployment drop in Greece, jobless rate among youth remains high
Youth unemployment remains a challenge in the country and young Greeks continue to struggle the most to get a job. The jobless rate among those aged 15-24 stood at 19.5 percent in January 2025 -an improvement from 23.2 percent in January 2024 but still more than double the national average. In contrast, unemployment among older workers aged 25-74 dropped to 8.1 percent.
ELSTAT’s latest data also highlight regional disparities, with Attica, the country’s economic hub and home to the country’s capital, recorded one of the lowest unemployment rates at 7.5 percent. Western Macedonia continues to record the highest unemployment rate at 10.3 percent.
The gender gap also also remained consistent, with the female jobless rate at 10.9 percent compared to seven percent for men.
During Greece’s debt crisis (2009-2019), which brought the country to the brink of bankruptcy, unemployment skyrocketed to 27.4 percent between 2012 and 2014. Since then, unemployment has been gradually declining, following the implementation of creepling austerity measures and structural reforms tied to three international bailout programs.
Greeks work more but get paid less
Though it is becoming easier for Greeks to get a job, when they do not only do they work more compared to other Europeans but they also get paid less. A recent survey by Eurostat found that Greeks despite working long hours are paid relatively little compared to the rest of the EU.
Greece remained in the lowest one-third of 26 European states in terms of salaries for 2023, coming in at 20th place.
The Benelux Grand Duchy of Luxembourg, one of Europe’s hubs for finance, is in first place, with an average hourly rate of 47 euros. Luxembourg also has the highest per capita income in the world.
Denmark follows with 42 euros per hour, then Norway (41.7), non-EU Iceland (39.5) and Belgium (36.3).
Greece’s 20th place is linked with an average hourly wage of 12.6 euros.
Behind Greece are Slovakia (12.5), Poland (11.9), Hungary (11), Latvia (10.7) and Romania (10.4). The last place is held by Bulgaria, where the average hourly wage is 8.4 euros.
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