Greek Unemployment Rate Falls to New Record-Low Levels



The Greek unemployment rate fell to 16.5 percent of the workforce in November of 2019, the latest month for which official data is available.

The unemployment rate during the same month in 2018 was 18.6 percent, dropping to 16.6 percent in October of 2019.

The promising figures were published by the Greek Statistical Authority on Thursday.

November’s rate is one of the lowest recorded since the first months of Greece’s financial crisis in the early 2010s.

The statistics service said in its monthly report that the number of unemployed individuals in Greece totaled 772,614 in November, down by 104,254 from November of 2018, representing a decline of 11.9 percent.

The number of unemployed people was 8,701 fewer than in October of 2019, representing a decline of 1.1 percent.

The number of employed correspondingly went up by 2.0 percent compared to November 2018, but was down 0.2 percent from October of 2019.

The unemployment rate among Greek women was 20 percent in November, while among males it fell to 13.7 percent.

Among the country’s regions, the highest unemployment rate was recorded in Epirus and West Macedonia with 19.7 percent, while Crete had the lowest margin, at 12.7 percent.

Greece’s historic high mark in unemployment was reached in 2013, at the peak of the crisis, when more than 27 percent of the nation’s citizens had lost their jobs.