Unemployment in Greece dropped to 9.2% in December 2023, down by 0.4% from November of the same year, according to the Greek Statistical Authority’s (ELSTAT) seasonally adjusted figures.
Compared to the corresponding month in 2022, when the jobless rate stood at 12.2, this represents a notable 3% drop.
The data showed employed individuals amounted to 4,264,292, marking a rise of 102,064 employees compared to December 2022 (2.5%) and 97,732 compared to November 2023 (2.3%).
The figure by the Greek Statistical Authority is 0.2% off the Eurostat’s estimate published on Tuesday, which placed the jobless rate for December 2023 at 9.4%.
The unemployed in Greece numbered 430,088 individuals, marking a decrease of 146,424 people compared to December 2022 (-25.4%) and a reduction of 746 individuals compared to November 2023 (-0.2%).
Individuals under 75 years old not included in the labor force, or “those outside the labor force,” meaning those who are neither employed nor actively seeking employment, totaled 3,093,407, reflecting an increase of 14,960 individuals compared to December 2022 (0.5%) and a decrease of 99,249 individuals compared to November 2023 (-3.1%).
Despite overall improvements, women in Greece remain persistently disadvantaged in the labor market, as the rate for females decreased to 11.2% in December 2023 from 11.6% in December 2022, while for men, it decreased to 7.1% from 8.9%. The gender gap highlights ongoing challenges and disparities in the Greek labor market.
Market pundits suggest that high jobless rates among the youth and women, partly attributed to “informal employment,” hurt the quality of life for young people, and by extension, more seriously, the demographic problem facing the country.
In the age group of 15-24 years, the unemployment rate decreased to 22.3% from 30.4%, and in the 25-74 age group, it lowered to 8.3% from 11.2% in December 2022.
Interestingly, at the same time, almost 9 out of 10 businesses report major difficulties in recruiting new employees from the available labor pool, even though companies claim they are not only seeking individuals with specialized skills and trained professionals but also unskilled workers.
It is worth noting that the staff shortage problem is not limited to sectors with seasonal activities, such as tourism and hospitality, but intersects all sectors of the economy.
Source: tovima.com
Latest News
Vardis Vardinogiannis: ‘On a Ship’s Bridge You Always Look Forward’
Ten milestones in the half century since the creation of Motor Oil Group, as described by Vardis Vardinogiannis, who passed away on Tuesday at the age of 91
DBRS Says Greek Banks ‘Shielded’ from ECB Rate Cuts
The agency explains that fund disbursements through the banking sector will help offset pressures anticipated on interest margins beginning in 2025, due to expected rate cuts by the European Central Bank (ECB).
Meta Cuts Facebook and Instagram Subscription Fees by 40%
The social media giant also revealed that it will continue to offer free access to Facebook and Instagram for EU users, provided they agree to see ads based on a limited set of user data.
Skyrocketing Use of Debit, Credit Cards
The total value of the transactions conducted with debit and credit cards in the country in the first half of 2024 rose 2% on the corresponding period of 2023
JP Morgan Revised Greece Outlook to ‘Overweight’
The investment bank notes that Greece is showing the strongest GDP growth in the Eurozone. Additionally, efforts to clear up bank balance sheets are anticipated to yield increased capital returns.
Vardis I. Vardinogiannis, Greek Tycoon and Shipping Magnate, Dies at 91
In 1990, Vardinogiannis was targeted in an attack which involved three rockets fired at his vehicle by the terrorist organization 17 November.
Kudos for Greek Sheep’s Milk Cheeses
Graviera is the Greek version of the Swiss gruyère, and is generally considered the second most popular cheese made in the country after feta
EIB Survey: Greeks Rank Climate Change as Top Concern After Cost of Living
Specifically, 98% of the Greeks surveyed stated that the country must to adapt to climate change, with 60% saying that priority should be given to these adjustment measures
Trump Tells Putin not to Escalate Ukraine War during Phone Convo
Meanwhile, President Joe Biden, is preparing to lobby Trump against abandoning U.S. support for Kyiv
Former Thessaloniki Mayor Yiannis Boutaris Dies at 82
Boutaris entered politics in 2010, serving as the 60th mayor of Thessaloniki for two consecutive terms until 2019, becoming a transformative figure with his progressive policies.