Despite Job Gains, Greece Struggles with Low Wages and High Unemployment
Greece continues to grapple with one of the highest unemployment rates in the European Union, even as it makes notable progress in reducing joblessness. According to Eurostat data from May 2025, the unemployment rate in Greece has fallen to 7.9%, down from 8.3% the previous month and significantly lower than the 10.5% recorded in May 2024. This marks the steepest year-on-year decline in recent memory and suggests that the Greek economy is gradually stabilizing and beginning to generate more employment opportunities. Despite this improvement, Greece still ranks fourth in the EU for unemployment and third within the eurozone. Its 7.9% rate remains well above the euro area average of 6.3% and the broader EU average of 5.9%. Only Spain, Sweden, and Latvia report higher levels of joblessness. Youth unemployment in Greece remains particularly troubling. Although it has dropped from 25.2% in May 2024 to 19.9% this year, it continues to rank...
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