Greece’s unemployment rate hit a 22-year low of 7.5% in December, according to the National Statistical Authority (ELSTAT), marking the second-best performance since 2004. This improvement stems from a significant surge in employment, with approximately 650,000 new jobs created since the end of 2020. The number of unemployed individuals has decreased by over 55% in the last six years, and both women’s and youth unemployment rates have also declined considerably. Despite wage increases, the figures indicate a substantial decrease in the number of job seekers.
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Greece’s unemployment rate fell to 8.3 percent in April 2025, a significant decrease from 10.8 percent the previous year, marking the lowest rate in 17 years. This achievement surpasses the unemployment rates of Sweden, Estonia, Finland, and Spain. The reduction is attributed to ongoing government policies aimed at boosting employment and encouraging the return of Greek expatriates. Further efforts include a “Career Day” in Stuttgart, offering over 1,000 Greek job opportunities.
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Moody’s upgraded Greece’s credit rating to Baa3, ending its 15-year junk status and marking a return to investment grade across all major agencies. This upgrade, attributed to improved public finances and a stable political environment, was welcomed by the Greek government as a significant achievement. Moody’s cited faster-than-expected improvements in public finances and ongoing debt reduction efforts as key factors. The government pledged continued commitment to reforms aimed at boosting investment, creating jobs, and ensuring sustainable economic growth.
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John Q. Hosedrinker