Over 130,000 Jobs Lost in Oct. 2024 in Greece: ERGANI

Job Loss in Greece amounted to over 130,000 in October 2024, according to the online system ERGANI.

The figure signals the third consecutive year of high job losses, following 131,496 jobs lost in 2023 and 115,856 in 2022. October is traditionally a negative month for employment as it marks the end of the summer tourist season. Additionally, there’s a high rate of part-time and flexible employment forms recorded.

The ERGANI data reveals that compared to October 2023, there was an equal increase in both hires (10,246) and terminations (10,241). Nonetheless, total hires in October 2024 (291,728) continued to lag significantly behind terminations (423,209).

Despite this, the ten-month balance remains positive with 171,253 new jobs, although this is down by 9,363 from the 180,616 recorded in the same period of 2023.

Regarding the types of contracts signed in October, data shows that out of the total hires (291,718), 46.18% or 134,701 were for full-time employment. The remaining 157,017 (53.82%) were for flexible work arrangements. Specifically, there were 128,210 part-time hires (43.95%) and 28,807 hires under rotation contracts (9.87%).

The employment balance was negative for both men (-69,037) and women (-62,454), and across all age groups. The largest losses (-45,836 jobs) were among workers aged 45-64, who are closer to retirement and potentially had higher wages. Workers aged 30-44 lost 36,332 jobs, considered the most productive age group, while 29,255 jobs were lost among the youth (15-24 years old).

At the regional level for job loss in Greece, the highest rate was recorded in the South Aegean (-55,744 jobs). Following were the Ionian Islands (-33,619), Crete (-30,846), Central Macedonia (-8,208), and North Aegean (-4,560). Conversely, Attica recorded a positive balance with 15,653 new jobs in October. Notably, in South Aegean, Rhodes saw the highest losses with 13,723 jobs, followed by Mykonos (9,749) and Santorini (9,406). In Crete, Heraklion led with 11,272 losses, followed by Chania with 10,526. In Central Macedonia, Halkidiki had 11,719 jobs lost, while in the Ionian Islands, Corfu topped the list with -14,204 jobs, followed by Zakynthos with -10,896 jobs.

The online system known ERGANI is a digital platform used by employers in Greece to electronically register their employees with the Social Insurance Services.

Source: Tovima.com