Greece experienced a slight increase in its employment rate during the fourth quarter of 2023, according to data released today by Eurostat. Among EU countries, Greece recorded a 0.7 percentage point rise in the employment rate for individuals aged 20-64, signalling a positive trend in the country's labour market.
The overall employment rate for individuals aged 20-64 in the European Union reached 75.5% during the fourth quarter of 2023, marking a marginal increase of 0.1 percentage points compared to the previous quarter. Meanwhile, the proportion of labour market slack, which includes unemployed individuals and those with unmet employment needs, decreased slightly to 11.2% of the extended labour force.
Eurostat's findings revealed varied employment trends across EU member states during the transition from the third to the fourth quarter of 2023. Notably, Croatia and Greece registered the highest increases in employment rates, with Greece showing a notable improvement of 0.7 percentage points. However, several EU countries experienced declines in employment rates, with Luxembourg and Lithuania recording the most significant decreases.
The stability and modest improvement in Greece's employment landscape offer a glimmer of hope amid ongoing economic challenges and recovery efforts. As the country navigates its way through labor market fluctuations, policymakers and stakeholders continue to prioritise initiatives aimed at fostering sustainable employment growth and reducing unemployment rates.
(Source: Eurostat)
