Unemployment

Bulgaria faces a challenging turn in its business climate as December reports unveil a decline in the total business climate indicator by 1.8 percentage points (pps), dropping to 19.8% from November's 21.6%. The National Statistical Institute highlighted a downturn primarily impacting construction, retail trade, and services sectors.

Industry Holds Steady but Faces Hurdles

Over 50,000 unemployed people benefited from the active employment policies of the Public Employment Service (DYPA) within 2023, although it is not known exactly how many of them remain in the labor market immediately after the end of the program in which they participated.

Registered unemployment reached 1,028,123 individuals in November, reflecting a 14.2% month-on-month increase (127,826 people), as reported by the Public Employment Service on Wednesday.

However, there was a 3.1% year-on-year decrease (33,296 individuals) in registered unemployment for November.

Eliminating the stigma associated with technical education is of the upmost importance, Prime Minister Kyriakos Mitsotakis has said.

Visiting Perama vocational high school near Piraeus, he said he was impressed by the quality of the work being done.

The Greek unemployment rate rose to 10.8% in the third quarter of 2023 according to the results of the Labor Force Survey, the Hellenic Statistical Authority (ELSTAT) said on Thursday.

The number of persons employed amounted to 4,256,176, up by 0.5% compared to the previous quarter and by 1% from the same quarter of the previous year.

Eurozone industrial production declined by more than expected in October, with the sharpest drop for capital goods such as machinery, reinforcing survey indications that the single-currency area is in a recession.

One of the key figures that captured the hardship of the decade-long economic crisis in Greece was the unemployment rate, which peaked at 28 percent in the summer of 2013. Today, the latest statistics show that Greece's unemployment rate has fallen below 10 percent for the first time since the onset of the crisis.

The decline in unemployment continued in October, with the jobless rate falling to 8.5 percent, the lowest level since November 2012.

The unemployment rate, which stood at 11.1 percent in October 2022, has been declining steadily since June this year.

The latest data released by Cyprus' District Labor Offices indicate a notable decline in registered unemployment rates for November, both on a monthly and on a yearly basis.

According to the Statistical Service of Cyprus (CyStat), comparing the current statistics to November 2022, there was a substantial decrease of 2,647 persons, or 17.3%, based on seasonally adjusted data.

The Labor and Social Security Ministry is planning a comprehensive set of measures and actions for the faster absorption of women in the labor market, Adonis Georgiadis said, speaking at the second International Forum on Women's Entrepreneurship on Saturday.