Greek Unemployment Drops to Lowest Level Since 2011

Greek unemployment rate fell to 18.9 percent of the workforce in August, falling to its lowest level since August 2011, according to figures released on Thursday by the Hellenic Statistical Authority (ELSTAT).

The number of unemployed people fell by 95,760 compared with August 2017 (a decline of 9.6 percent) and by 7,886 compared with July 2018 (a decline of 0.8 percent), supported by strong tourism trends.

The statistics service, in their monthly report, stated that the number of unemployed people totaled 896,588 in August.

Among younger people aged 15 to 24, the jobless rate fell to 36.8 percent from 40.4 percent from the same month in 2017.

Greece’s unemployment rate, which hit a record high of 27.9 percent in September 2013, has been coming down since then, but remains the highest in the Eurozone.

Among the country’s regions, Epirus-Western Macedonia recorded the highest unemployment rate (23.5 percent in August from 26.1 percent in August 2017), followed by Attica (19.7 percent from 21.3 percent) and Macedonia-Thrace (19.5 percent from 21.5 percent).