Hellenic Statistical Authority

The seasonally adjusted unemployment rate in August 2024 amounted to 9.5% compared to the upwardly revised 11.4% in August 2023 and 9.9% in July 2024, the Hellenic Statistical Authority (ELSTAT) announced on Tuesday.

Many households in Greece had to cut back on basic food items in 2023 so they could cover other needs, under the suffocating pressure of shrinking disposable income. This, of course, does not mean that they paid less, as the average monthly expenditure for almost the same items increased.

The contribution of industry to Greece's growth in rising, according to economic reports from banks based on Hellenic Statistical Authority (ELSTAT) data.

"On the supply side, the industrial sector was by far the largest contributor to the strengthening of domestic economic activity in Greece in the first half of 2024," Eurobank reported a few days ago.

Whoever harbored high expectations from a scheme to bring more vacant properties onto the market by offering incentives to their owners, as a solution to the housing shortage problem better think again.

The overall turnover index in industry in July 2024 recorded an increase of 11.7% compared with the corresponding index of July 2023, according to figures released by the Hellenic Statistical Authority (ELSTAT) on Friday.

The Overall Turnover Index in Industry in July 2023 had decreased by 10.3% compared to July 2022.

Turnover in accommodation and food service businesses in July saw a 5.2% yearly increase, but mostly attributed to inflation, while in popular destinations such as Mykonos and Santorini, a decrease in the relative turnover was recorded for another month.

Total passenger traffic through Greek ports in the first quarter of 2024 recorded an increase of 11.4% compared with the first quarter of 2023.

An increase of 16.7% had been recorded in the corresponding comparison of the first quarter of 2023 with that of 2022, the Hellenic Statistical Authority (ELSTAT) said on Thursday.

Greece's inflation rose 3% in August year-on-year, compared to 2.7% in July and 2.7% in August 2023, according to data published on Tuesday by the Hellenic Statistical Authority (ELSTAT).

The Labor Ministry will focus its efforts to increase employment on the large pool of more than 4.2 million people who are outside the labor force - i.e. neither working nor looking for work - while the Hellenic Statistical Authority (ELSTAT) said on Thursday the unemployment rate stabilized at a single digit (9.8%).

Next week, the method of calculating the social security contributions of 800,000 freelancers, self-employed and farmers will be determined.

The law stipulates that as of 2025, the contributions of the self-employed will be decoupled from inflation and linked to the rate of wage adjustment.