The jobless rate in Greece has declined, according to a relevant study by ICAP CRIF. The data shows that the number of unemployed individuals recorded a decrease in 2024, consistent with a downward trend of previous years.
Stamatina Pantelaiou, Director of Economic Sector Studies at ICAP CRIF, said Greece’s labor market continued to show improvement for the 11th consecutive year.
Women were more impacted by unemployment, remaining significantly higher than for men—12.1% versus 7.5%—though the gender gap has been narrowing. In Q4 2021, the difference was 7.7 percentage points, compared to 4.6 points in Q4 2024.
The average annual jobless rate in Greece stood at 10.1% in 2024, down from 11.1% in 2023 and 12.4% in 2022.
The ICAP CRIF director continued, “The unemployment rate fell to 10.1% in 2024, from 11.1% in 2023. Based on current data, in 2025, unemployment is expected to return to single digits for the first time since 2009, when it was 9.6%,” Pantelaiou said.
She noted that unemployment has been declining steadily since 2014, even during periods of economic turbulence, such as the energy crisis and rising inflation in 2021-2022.
In 2024, the labor force grew by 40,500 people, while the economically inactive population decreased by 59,600, indicating that a significant number of people who were previously outside the labor market entered employment.
“The decline in unemployment largely reflects higher employment levels, as the working-age population in Greece remained relatively stable,” Pantelaiou added.
Greece’s unemployment rate fell to 9.5% in the fourth quarter of 2024, down from 10.5% in 2023, 11.9% in 2022, and 13.2% at the end of 2021, according to data from the Hellenic Statistical Authority (ELSTAT). The number of unemployed dropped to 449,100, marking an annual decrease of 8.1% or 39,600 people.
