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“Ghost” of rising unemployment returns to Greece

The “ghost” of rising unemployment and layoffs has returned to Greece in the last three months with the dismissals to surpass the hiring of labor forces. In November alone, 30,559 jobs disappeared.

Unemployment has increased in September, October and November, data from the Ergani system of the Labor Ministry show. A development that worries the economics staff of the New Democracy government, media report on Tuesday.

Since the month of September instead of unemployment decrease and employment increase, the trend has reversed. Dismissals have surpassed new hires.

In November, recorded lay-off reached 239,142, while the new hires were 208,583. Lost jobs: 30,559.

In October, October lost 125,668 jobs, new hires were 248,592 and layoffs 374,260. The big difference of 125,668 job loss is due to the seasonal works and the end of the touristic season.

The negative recruitment/dismissal balance this year was higher than in October 2018. In October 2018 it was negative by 120,087 jobs and people who became unemployed, while in October 2019, the balance was increased by 5,581 and the job loss amounted to 125,668.

In September, recruitment announcements amounted to 308,121, with lay-offs being at 305,470. It has a positive employment balance of 2,651 people.

Employment increase and even well-paid jobs were one of the key pre-election promises of New Democracy. As everyone who changes from opposition to the government also the ruling party will have to realize that real life is much tougher than what’s in the politicians’ mind – in good faith.

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One comment

  1. This is the normal Q4 unemployment pattern since all the 6 month hires for the tourist season are laid off in
    Oct-Nov .