Unemployment Rate Drops to 9.4% in Dec. as Greece Ranks 2nd in the EU

Data released by Greece’s Statistical Authority (ELSTAT) indicate that the unemployment rate in Greece fell below the critical 10% threshold in Dec. 2024. It stood at 9.4%, compared to 10.4% of the same month in 2023.

More specifically, the number of employed individuals reached 4,267,593, marking an increase of 35,656 people (0.8%) compared to Dec. 2023 and a decrease of 10,579 people (-0.2%) compared to Nov. 2024.

The number of unemployed individuals reached 443,639, marking a decrease of 48,529 people (-9.9%) compared to Dec. of 2023 and a decrease of 6,124 people (-1.4%) compared to Nov. 2024.

As recorded individuals under 75 years old who are not part of the labor force, or “persons outside the labor force”—those who neither work nor seek employment—were 3,053,783. This represents a decrease of 10,816 people (-0.4%) compared to Dec. 2023 and an increase of 14,551 people (0.5%) compared to Nov. 2024.

Figures also indicate that women remain more vulnerable to unemployment, with the unemployment rate for women standing at 11.3% in 2024, compared to 8% for men.

A positive development is the downward trend in unemployment among the 15-24 age group, despite fluctuations over the past five years. It has dropped from 33.2% in Dec. 2019 to 21% in the same month of 2024.

At a European level, according to unemployment data released by Eurostat Greece remains the country with the second-highest unemployment in the EU, behind only Spain, with an unemployment rate of 9.4%. Spain holds the top position with 10.6%, while Finland ranked third with 8.6%.

In Dec. 2024, 2.927 million young people under 25 were unemployed in the EU, of whom 2.359 million were in the eurozone. The youth unemployment rate slightly declined to 15.0% in the EU, while it stood at 14.8% in the eurozone.

Greece’s position improved at the EU level, dropping to 4th place from the 3rd position it held in Nov. with a youth unemployment rate of 21%. Spain ranked first with 25.3%, followed by Sweden at 23.9% and Luxembourg at 22.3%.

Source: Tovima.com