Record hirings reported in year’s first half

The Greek labor market registered a record in January-June with 339,208 new jobs, while the balance was also positive in the month of June, when hirings outnumbered layoffs for a fifth consecutive month, resulting in the creation of 23,961 new jobs.

According to the Ergani database of the Labor Ministry, June was a typical month for the domestic market, with many jobs created, a marginal prevalence of full-time contracts and a worrying recovery in flexible work forms, with recruitment mainly of young people in the food service and accommodation sectors. The data of the Ergani system capture another feature of Greek reality, as the end of the school term leads to an increase in dismissals among private school teachers and tutors.

Last month there were 340,736 recruitments, a little fewer than in June 2023 (357,931). There were 12,395 fewer layoffs this year compared to last June.

From February 2024 onward, new jobs were constantly being created. In the first six months of the year, an employment record was observed, with 339,208 new jobs, 34,290 more than the 304,918 recorded during the same period last year. This was mainly helped by the previous two months, April and May, with 132,352 and 126,660 new jobs respectively.

There is a warning, though, mainly due to the qualitative features of the new hires, since after several months in which full employment gained ground, it seems that in June its prevalence was marginal.

In total, 172,580 recruitments were made on full-time contracts, a number that corresponds to half of all recruitments (50.65%). The 135,720 hires were part-time (39.83% rate), while another 32,436 hires (9.52% rate) were on a rotating basis.

This picture is explained if one looks at the age composition of recruits: The 40,910 new jobs involved young people aged 15-24, who are much more willing to work part-time and for low wages. There was the opposite in the next two age categories, which cover the most productive potential of the country. In the 25-29 age group, Ergani showed that 3,983 jobs were lost in June. It was even worse for the 30-44-year-olds, where a loss of 15,344 jobs was recorded in the same month. It appears young workers, with flexible forms of declared employment and possibly harsher actual working conditions, were preferred.