Greek unemployment drops to 16.2% in November, lowest since April 2011

Greece’s jobless rate dropped to 16.2% in November from a downwardly revised 16.4% in the previous month, data from the country’s statistics service ELSTAT showed on Thursday, the lowest rate since April 2011.

Seasonally adjusted data showed the number of unemployed at 753,494 people, with those aged up to 24 the hardest hit.

Among people aged 15 to 24, the jobless rate fell to 34.0% from 35.4% in the same month in 2019. Greece’s jobless rate, which hit a record high of 27.8% in September 2013, has been falling but remains the highest in the euro zone.

Greece’s 2021 budget projects the economy will grow by 4.8% this year after a projected 10.5% slump in 2020, with joblessness seen falling to 17.9% from an estimated 18.9% last year. 

Main Photo: EPA-EFE/YANNIS KOLESIDIS