The unemployment rate in Greece recorded a further decline in January
The unemployment rate in Greece recorded a further decline in January 2025, reaching 8.9%, according to the latest Foundation for Economic & Industrial Research (IOBE) report.
The number of jobless individuals decreased to 410,000, marking a 31.4% drop compared to the previous year over the same period. Meanwhile, employment increased by 1.3% year-on-year, reaching 4.21 million workers in January 2025.
Employment in the industrial sector saw a 0.3% increase in Q3 2024, while overall employment across the economy grew by 1.6% year-on-year.
Factory capacity utilization declined to 74.7% in January, down from 78% in October 2024. The secured production period also fell to 4.9 months, compared to 6 months in October.
Industrial exports rose by 12.7% year-on-year, reaching €2.4 billion in December 2024. However, the trade deficit widened to €3.8 billion, up from €3.7 billion a year earlier.
Among the top industrial export products of 2024 were pharmaceuticals with €2.8 billion (+0.6%); aluminum with €2.5 billion (+4.9%).
Greece’s GDP grew by 2.6% in Q4 2024, following a 2.3% increase in Q3 2024. This growth rate was stronger than the EU average, which stood at 1.4%.
Despite the positive GDP figures, the economic climate weakened in February, mainly due
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