Unemployment rate in Greece to record biggest increase in 2020


A recent report released by the Federation of Hellenic Enterprises (SEV) found the unemployment rate in Greece is expected to record the biggest increase in a decade, surpassing the period 2011-2013 when the Greek economic crisis was at its peak.

Based on official data, the report said the balance of job flows in Greece fell to its maximum negative level in March (-41,903 job positions), despite the fact that government measures tried to contain job losses.

New hiring fell 49 percent in March compared with the same month last year (103,002 from 202,157), while dismissals fell 8.7 percent to 144,905 from 158,784.

People lined the streets outside Greece’s Labour Employment Office during the economic crisis of 2011-2013. Source: AP News.

However, the Federation did note that two sectors recorded a positive balance of labor flows: public administration and defense (+1,115 job positions) and human health (+393).

With Greece slowly trying to return to normalcy following COVID-19 restrictions, the Federation recommended the adoption of a preemptive and flexible strategy for employment, linking it with measures to restart the economy.

READ MORE: Greek Finance Minister: Expect a recession of up to 10 percent due to tourism losses.




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