Job Market Monitor
Greece
Generating More and Higher-Quality Jobs – The case of Greece
Greece’s labour market entered the COVID-19 shock following several years of sustained employment growth and with wages picking up. Unemployment remained high and employment rates were low, especially among women, the young and older workers. The shock led to a sharp fall in labour force activity and has stalled new hiring. The improved social protection … Continue reading
Greece’s Brain Drain – Young, educated workers are fleeing
As Greece stumbles from one economic disappointment to the next, the country is now exporting something it desperately needs to retain; young, educated workers. Thousands of skilled Greeks are heading overseas to further their careers, leading to fears the deeply troubled nation could be facing a brain drain. Recruitment agencies in the UK have reported … Continue reading
Greece – The government’s full proposal to the Eurogroup
The full proposal submitted by the Greek government to the Eurogroup earlier on Thursday is the following: “Greece: Prior Actions Policy Commitments and Actions to be taken in consultation with EC/ECB/IMF staff: 1. 2015 supplementary budget and 2016-19 MTFS Adopt effective as of July 1, 2015 a supplementary 2015 budget and a 2016–19 medium-term … Continue reading
Greece – National Reforms Programme, the Job Market and the national 2020 target
According to Labour Force Survey (LFS), the average number of employed (aged above 15 years) declined by 149.6 thousand people in 2013 against 2012 (i.e. a 4% y-o-y decline), following a 8% y-o-y drop in employment in 2012 versus 2011. Overall, the impact of the recession on employment has been significant, as between the fourth … Continue reading
Lost in the Battle over Greek Debt – Youth Unemployment Rate Above 50%
Lost in the battle over Greek debt and austerity is the fact that unemployment among people under 25 remains over 50%. At 50.1% in February, the last available data, even if Greece can pay its debt short term, an entire generation could contribute little to gross domestic product GDP and taxes. This is particularly concerning … Continue reading
Greece – Unemployment falls to 25.7 pct in September
Greece’s jobless rate fell to 25.7 percent in September from a upwardly revised 26 percent rate in August as the country’s six-year recession eases, Greek statistics agency ELSTAT said on Thursday. September’s reading was the lowest since August 2012 when unemployment stood at 25.5 percent. The record high was set in September 2013, when unemployment … Continue reading
Greece – Alpha Bank to cut 15 percent of jobs
Alpha Bank, Greece’s fourth biggest lender, opened a voluntary redundancy offer on Monday with a view to cutting 15 percent of its workforce to cut costs under a restructuring plan approved by the EU Commission, an official at the bank said on Monday. All four of Greece’s top banks have been restructuring but Alpha’s bigger … Continue reading
Greece – Q1 unemployment stable at 27.8 pct
Greeces jobless rate remained unchanged at 27.8 percent in the first three months of the year compared to the previous quarter, data from the countrys statistics service showed on Thursday. About 71 percent of Greeces 1.34 million jobless are long-term unemployed, meaning they have been out of work for at least 12 months, the … Continue reading
Greece – Only 8% of 1.27million jobless gets unemployment allowance
The majority of Greece’s 1,274,843 jobless receive no unemployment allowance. According Employment Agency OAED , only 102,026 jobless received the allowance in April 2014. That is less than one out of ten of the country’s at least 1,274,843 men and women without job. Although employees pay their social security contributions month-in month out during their … Continue reading
Greece – The economy shrinks by 1.1 pct in Q1
The Greek economy shrank by 1.1 percent in the first quarter of the year on a 12-month basis, Greece’s statistics agency said on Thursday. The data, unadjusted for seasonal factors showed that output by the bailed out economy “decreased by 1.1 percent in comparison with the first quarter of 2013,” the ELSTAT agency said. Based … Continue reading
Greece – Unemployment down for fifth straight month (to 26.5 percent)
Greece’s jobless rate improved in February to its lowest rate in more than a year, data showed on Thursday, in another sign the Greek economy is emerging from a crippling six-year slump. Unemployment dropped for a fifth consecutive month, to 26.5 percent from a downwardly revised 26.6 percent the month before, the Greek statistics service … Continue reading
Greece – The end of public sector 103 years job security enshrined in the Greek Constitution
Last summer, job cuts were scheduled at vocational and technical schools across Greece and staff were asked to reapply for their old jobs, or another position. As of Monday, March 23, around 400 of the total 1,845 teachers who didn’t apply for other positions, and who have not been offered other posts, will be fired. Thus ending the … Continue reading
Greece – Unemployment at record level
Greece’s jobless rate rose to a record 27.5 percent in the last quarter of 2013 even as the pace of economic contraction eased, remaining the highest in the eurozone, data showed on Thursday. Chosen excerpts by Job Market Monitor. Read the whole story at ekathimerini.com | Greek joblessness at record level, reaching ‘cyclical peak,’ according to economist. … Continue reading
Greece – Immigrants who left were more than those who entered the country
More than 20,000 immigrants that were living in Greece have returned to their countries, said the Head of the International Organization for Migration (IOM) Office in Greece, Daniel Esdras. According to Mr. Esdras, 2013 was the first year when the immigrants who left Greece were more than those who entered the country. Chosen excerpts by … Continue reading
Greece / Unemployment rises to 28 pct in November
Unemployment registered a new record in Greece in November as the jobless rate climbed to 28 percent from 27.7 percent in October and 26.3 percent in November 2012, according to data released on Thursday by the Hellenic Statistical Authority (ELSTAT). The figures showed that the number of unemployed grew by almost 1 million (991,000) in … Continue reading
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