On Tuesday, the Hellenic Statistical Authority (ELSTAT) disclosed the latest Greek employment and unemployment figures for June 2023, after conducting seasonal adjustments.

In June 2023, the seasonally adjusted unemployment rate declined to 11.1%. This marked a notable improvement compared to the revised figures of 12.3% in June 2022 and 11.3% in May 2023. This drop in unemployment is a positive sign for the Greek economy, indicating potential growth and stabilization.

Moreover, the data indicated a rise in the number of employed individuals. In June 2023, a total of 4,189,862 persons were employed, indicating an increase of 46,574 individuals compared to the same period in 2022, reflecting a growth rate of 1.1%. Furthermore, the employment numbers saw a 0.8% growth from May 2023, with an additional 32,310 persons joining the workforce.

Conversely, the number of unemployed individuals showed a substantial decrease. In June 2023, the total number of unemployed persons amounted to 523,409, demonstrating a decline of 60,078 individuals compared to June 2022, signifying a decline of 10.3%. Additionally, there was a reduction of 6,234 persons from May 2023, representing a drop of 1.2%.

In addition to the employed and unemployed figures, the data also accounted for individuals outside the labor force, namely those under the age of 75 who were neither working nor actively seeking employment. In June 2023, this number stood at 3,088,274, showing a decrease of 15,775 persons compared to June 2022, indicating a reduction of 0.5%. Similarly, this figure decreased by 28,410 persons in comparison to May 2023, indicating a decline of 0.9%.

Overall, the recent employment and unemployment figures for June 2023 suggest positive trends in the Greek labor market, with a lower unemployment rate and a rise in the number of employed individuals, while also witnessing a decline in the number of individuals outside the labor force. These developments are encouraging signs for the country’s economic recovery and stability.