According to data recently released by the Hellenic Statistical Authority (EL.STAT), the number of unemployed workers decreased by 12,624 in June compared with May and the seasonally-adjusted unemployment rate fell to 19.1% from a revised 19.3% in the previous month (previously reported: 19.5%). In addition, June's unemployment rate was below that of the same month last year (June 2017: 21.3%).
While the unemployment rate has fallen considerably in recent years, it remains the highest in the Eurozone. Youth unemployment—individuals between the ages of 15-24—is particularly pronounced and came in at 39.1% in June.
FocusEconomics Consensus Forecast panelists expect the unemployment rate to average 19.9% in 2018. For 2019, the panel expects the unemployment rate to average 18.6%.