Greece’s Labor Market Sees Record Growth

The labour marketplace becomes stronger owed to the betterment of the Greek economy. Credit: AMNA

Greece’s labour marketplace achieved its strongest January-to-August show since 2001, signaling a nett instauration of 317,301 caller jobs (hires minus departures). This grounds figure, tracked by the Ergani information system, highlights the continued recovery of the Greek economy.

Despite the grounds wide growth, employment figures underscore the highly seasonal quality of the Greek labour market:

As expected, August saw a flimsy diminution of 2,542 nett jobs. This “shrinkage” is predictable, arsenic July and August traditionally acquisition a dip pursuing the wide hiring blitz of the spring.

From February done June, the accommodation and nutrient work assemblage hires unit extensively successful anticipation of the summertime tourism season. However, businesses often marque “corrective moves” successful July and August, reducing unit owed to lower-than-anticipated occupancy oregon a wide propulsion to chopped costs.

Many of these hires are made connected fixed-term contracts, which expire toward the extremity of the summer, contributing to the simplification successful jobs.

This seasonality is evident geographically, with land and coastal regions, specified arsenic the South Aegean (-2,188) and the Ionian Islands (-758), experiencing job losses successful August. Conversely, areas with administrative and acquisition activities recorded occupation increases.

Promising wide inclination for Greece’s labour market

Despite the seasonal fluctuation, the wide effect for 2025 remains highly promising. The nett occupation instauration of 317,301 for the archetypal 8 months surpasses the corresponding play past twelvemonth (299,148) by 18,153 positions.

This affirmative inclination is attributed to:

Increased employment successful high-demand sectors.

The continued de-escalation of unemployment.

The sustained betterment of the system pursuing the pandemic and vigor crisis.

Overall, the information confirms the labour marketplace is firmly connected a betterment path, with a continually expanding employment base.

Related: Unemployment successful Greece Lowest Since 2008, Young Greeks Still Struggle for a Job