Backtracking seen after job market progress

The latest data from the Manpower Organization (OAED) and the Labor Ministry’s Ergani hirings database confirm the dominance of flexible forms of employment in new hirings, the slowdown in unemployment’s pace of decline and the fact that half of the country’s jobless have been out of work for more than 12 months.

The number of unemployed people registered with OAED in January rose by 21,663 from December 2017 to reach 1,092,325. Half of those (49.59 percent or 540,755 people) are classified as long-term unemployed – being out of work for at least year.

OAED figures also revealed a significant decline in the number of unemployed who receive jobless benefits: Their number fell by 23,583 people or 12.11 percent in January, coming to just 171,131 from 194,714 in December. This means that of the sum registered as unemployed, only 15.66 percent receive some form of handout from OAED.

Ergani data, released last Friday, showed that last month’s departures surpassed hirings, leading to the loss of 16,542 jobs. They also showed the absolute trend in favor of part-time and temporary work in hirings, while salaries continue to decline, with the average dropping below 400 euros per month.

Source: ekathimerini.com