170,470 fewer new jobs in Greece

170,470 fewer new jobs in Greece

The worst performance since 2013 was recorded in the seven months (January – July) of the employment balance in the private sector according to the data of the “Ergani” system. These data raise concerns about the course of the Greek economy, after the rise to 17% last May.

According to ERGANI data, the new jobs in the 7 months of 2020 were 111,305. On the contrary, in the corresponding period last year, the new jobs had reached 281,775. In other words, between 2019-2020, there were 170,470 fewer (or 60%) new jobs. Therefore, not even the “opening” of tourism managed to dramatically change the bad situation. At the same time, the balance of employment in the private sector in July was positive as there were 67,911 more recruitments compared to layoffs.

The data

According to the data of the employment flows of July 2020, the recruitment announcements amounted to 306,808, while the departures to 238,897 (87,824 came from voluntary resignations and 151,073 from terminations of indefinite contracts or expiration of fixed-term contracts). In other words, 67,911 net jobs have been created, when last year in the specific month there was a negative balance (-14,691). This is the best recorded positive balance performance since July 2001, which is related to the fact that the tourism companies opened in that month. However, this element has to do with the collapse of work in the past.

Cumulatively for the period January – July 2020, the recruitment announcements amounted to 1,157,209 jobs and the departures reached 1,045,904, as a result of which the employment balance of the first seven months of 2020 is positive and forms 111,305 new jobs. It should be noted, however, that the reduced number of seasonal recruitments, during the period March – May, in sectors of economic activity related to tourism resulted in the lowest performance, compared to the respective balance sheets of the last seven years./ibna