Job­less rate has shrunk mainly thanks to poorly paid new jobs

Kathimerini English - - Focus - BY ROULA SALOUROU

The drop in Greece’s un­em­ploy­ment rate ap­pears to have been achieved through the cre­ation of more jobs at low salar­ies, the Hel­lenic Fed­er­a­tion of En­ter­prises (SEV) says, not­ing that the lion’s share of the em­ploy­ment spike is seen in the salary bracket of 501-600 eu­ros per month. The higher the salary, mean­while, the lower the rate of the in­crease in em­ploy­ment.

Hel­lenic Sta­tis­ti­cal Au­thor­ity (ELSTAT) fig­ures on Thurs­day showed that the job­less rate dropped to 18.6 per­cent in Oc­to­ber 2018, from 21 per­cent in the same month in 2017, and that the num­ber of em­ployed peo­ple grew 2.1 per­cent on an an­nual ba­sis. A sim­i­lar in­crease from 2017 and the years be­fore that is also recorded by the La­bor Min­istry’s Er­gani em­ploy­ment data­base.

In its monthly eco­nomic bul­letin, SEV ex­am­ined the in­crease in full- and part-time em­ploy­ment last year by pro­cess­ing the Er­gani data. It showed a 26 per­cent ex­pan­sion in part-time la­bor com­pared to four years ear­lier, and 24 per­cent of growth in full­time em­ploy­ment from 2014.

SEV par­tic­u­larly high­lighted the fact that while em­ploy­ment has been on the rise across all salary brack­ets, on a gen­eral ba­sis the higher the salary is, the smaller the growth rate. This ex­plains the ma­jor rise in em­ploy­ment recorded in the 501-600 eu­ros/month bracket.

Wages are rel­a­tively stable, as the monthly salary has ranged be­tween 1,020 and 1,060 eu­ros/month since 2014, with a slight in­crease recorded last year.

The SEV re­port also es­ti­mates that the sig­nif­i­cant in­crease in jobs seen in small en­ter­prises could be partly ex­plained by the rise in the num­ber of work­ers who ap­pear to be em­ployed by more than one busi­ness, from 44,800 in 2014 to 88,800 in 2018.

Fig­ures from the La­bor Min­istry’s Er­gani data­base have shown a 26 per­cent ex­pan­sion in part-time la­bor com­pared to four years ear­lier, and 24 per­cent of growth in full-time em­ploy­ment from 2014.

Newspapers in English

Newspapers from Greece

© PressReader. All rights reserved.