Greece unemployment steadies at 5% as households turn to second jobs amid rising poverty risk

The OECD reported that overall unemployment across its member countries remained at 5% in April, with the figure of 35.1 million jobless unchanged from the previous month. In the European Union unemployment held at 6% and the euro area at 6.3%, near historic lows. Greece showed a notable monthly improvement, with the unemployment rate falling to 9.5% from 10.4% in March, though it stays above the euro‑zone average. Youth unemployment dropped sharply to 18.4% from 25.3%, while a gender gap persisted—women’s unemployment was 13.7% versus 5.9% for men.

Domestic economic pressure remains high. Rising prices for essentials and housing costs mean many Greek households cannot make ends meet on a single salary, prompting roughly half of workers to seek or hold a second job. The number of retirees employed rose to about 300,000, driven by low pension levels (average €865 per month) and a policy change in January 2024 that replaced a 30% pension cut with a 10% tax on earnings from work, offering additional pension credits of about 0.77% per year. Consequently, the risk of poverty or social exclusion increased to 27.5% of the population—approximately 2.8 million people.