conomic recovery was observed in Greece, with a total of 339,208 new jobs being generated. The month of June also saw a positive trend, with 23,961 new jobs being created, marking the fifth consecutive month of hirings outnumbering layoffs.
Economic Recovery in Greece
In January-June, the Greek labor market experienced a significant boost with the creation of 339,208 new jobs. This record-breaking number reflects a positive trend in the country’s economy, signaling a gradual recovery from the challenges posed by the pandemic.
According to the Ergani database of the Labor Ministry, the month of June was particularly promising, with 23,961 new jobs being added. The data also revealed a shift towards full-time contracts, although there was a concerning increase in flexible work arrangements, particularly in the food service and accommodation sectors. Young people were the primary beneficiaries of these new job opportunities.
Interestingly, the end of the school term in June led to a rise in dismissals among private school teachers and tutors. Despite this, the overall trend in the labor market remained positive, with 340,736 recruitments recorded last month.
Looking ahead, the outlook for the Greek labor market appears promising, with new jobs being consistently created since February 2024. This steady growth in employment opportunities bodes well for the country’s economic recovery and suggests a brighter future for job seekers in Greece.
Employment Trends
During the past year, there has been a significant increase in employment, with 339,208 new jobs created. This is a positive trend, showing growth in the job market compared to the previous year.
Quality of New Hires
While the increase in job numbers is promising, there is concern about the quality of these new hires. It appears that many of the new positions created are part-time or on a rotating basis, which may not provide stable income for workers.
Full-time contracts accounted for half of all new hires, while part-time positions made up a significant portion as well. This indicates a shift towards more flexible employment arrangements, which may not be favorable for workers seeking long-term stability.
Age Composition of Recruits
Analysis of the age composition of new hires reveals that a significant number of young people aged 15-24 have been employed. These individuals may be more willing to work part-time or for lower wages, which could contribute to the prevalence of non-full-time positions.
Conversely, there has been a lack of new hires in the age categories representing the most productive potential of the country. This imbalance in age groups could have implications for the overall productivity and stability of the workforce.
Youth Unemployment on the Rise
In Ergani, a recent study revealed alarming statistics regarding job losses in different age groups. According to the data, the 20-29 age group experienced a loss of 3,983 jobs in June. However, the situation was even more severe for individuals aged 30-44, with a staggering 15,344 job losses reported during the same month.
It seems that young workers, who often have more flexible forms of employment contracts and may be subjected to harsh working conditions, are bearing the brunt of the current economic challenges. This trend highlights the need for policies and interventions aimed at supporting and empowering young workers in the labor market.
