ELSTAT: Greece’s Unemployment Rises to 9.5% in Q4 2024

The unemployment rate in Greece reached 9.5% in the fourth quarter of 2024, according to data released by the Greek Statistical Authority (ELSTAT).

The number of unemployed individuals stood at 449,123, marking a 4.8% increase compared to the previous quarter but an 8.1% decrease from the same period in 2023.

In the third quarter of 2024, the unemployment rate was recorded at 9.0%, while in the fourth quarter of the previous year, it had been higher, at 10.5%. Meanwhile, the total number of employed individuals in the country was 4,278,704, reflecting a 1.0% decline compared to the previous quarter.

Employment Characteristics

During the fourth quarter of 2024, the majority of workers were salaried employees, accounting for 69.6% of total employment, while 19.7%, were self-employed without staff.

The rate of part-time employment stood at 5.6%, showing a notable decrease of 11.2% compared to the previous quarter and 23.8% compared to the same period the previous year.

Temporary employment accounted for 8.1% of the workforce, declining by 26.2% from the third quarter of 2024.

Occupational Trends

The largest share of the workforce was made up of professionals (22.8%) and service and sales workers (22.3%).

On the other hand, the most significant decline was recorded among unskilled laborers, manual workers, and small-scale tradespeople, with a 5.7% decrease.

Year-on-year, the most substantial employment growth was seen in industrial plant and machinery operators (11.2%), while the steepest decline was recorded among skilled agricultural workers, including farmers, livestock breeders, foresters, and fishers, whose numbers dropped by 8.6%.

Unemployment Characteristics

The primary reason cited for job loss among the unemployed was the expiration of fixed-term contracts, affecting 37.1% of job seekers. New entrants to the labor market—those who have never worked before—accounted for 20.2% of the unemployed.

Long-term unemployment, defined as job seekers who have been out of work for a year or more, stood at 53.5%, with the highest unemployment rates recorded in the South Aegean and Ionian Islands regions, while Crete reported the lowest rate.

Source: Tovima.com