Greece’s Unemployment Rate Drops to 9.5% in August 2024, Reports ELSTAT

The Hellenic Statistical Authority (ELSTAT) has announced a notable decrease in Greece's seasonally adjusted unemployment rate, which fell to 9.5% in August 2024.

This figure represents a significant decline from a revised 11.4% in August 2023 and a slight decrease from 9.9% in July 2024.

The report highlights that the number of employed individuals in Greece reached 4,252,488, an increase of 103,054 people, or 2.5%, compared to the same month last year. Additionally, employment rose by 30,064 individuals, or 0.7%, from July 2024.

Conversely, the number of unemployed persons decreased to 444,402, reflecting a drop of 90,496 individuals, or 16.9%, from August 2023, and a decline of 17,551 persons, or 3.8%, compared to the previous month.

The report also noted changes in the labour force dynamics, with the number of individuals outside the labour force—those under 75 who neither work nor seek employment—falling to 3,076,851. This represents a decrease of 41,278 individuals, or 1.3%, from August 2023, and a reduction of 14,749 persons, or 0.5%, from July 2024.

When examining unemployment rates by gender, the figures reveal a positive trend for women, whose unemployment rate dropped to 11.6%, down from 15.1% in August 2023. The rate for men also decreased, falling to 7.7% from 8.6% during the same period last year.

This latest data signals a continuing recovery in Greece's labour market, reflecting improved economic conditions in the country as it emerges from a prolonged period of economic challenges.

Read more: ELSTAT reports