Greece unemployment rate falls to 7.9% in July

Labor market data for July 2026 shows varying trends across Greece, Cyprus, and the broader European Union.

In Greece, the unemployment rate fell to 7.9%, down from 8.1% in June and 8.9% in July 2025, according to ELSTAT. This represents the lowest July rate in 19 years. While the number of unemployed individuals decreased to 376,508, some analysts suggest the decline may be partially linked to a shrinking labor force population rather than purely job creation. Youth unemployment (ages 15-24) also saw a significant drop to 16.8% from 20.4% a year prior.

Cyprus reported a seasonally adjusted unemployment rate of 3.9% for July 2026, a slight increase from 3.8% in June, but an improvement from 4.3% in July 2025. The number of unemployed in Cyprus was estimated at approximately 21,000.

At the European level, Eurostat reported that the EU unemployment rate remained stable at 6.1% in July 2026, while the eurozone rate stood at 6.4%. Although youth unemployment in the EU saw a slight monthly decrease to 15.1%, the total number of unemployed people in the EU increased compared to July 2025.