Unemployment

Poverty is no longer due to unemployment, as was the case in the past. It has become a structural element of the functioning of the Greek economy, an economy that massively produces the new poor - people with jobs who earn meager wages.

 A further decrease was recorded in the unemployment rate in the country in September this year, rising to 9.3%, compared to 10.7% in September 2023 and 9.5% in August 2024. The number of unemployed individuals reached 437,648, marking a decrease of 65,905 people compared to September 2023 (13.1%) and a decrease of 7,615 people compared to August 2024 (1.7%).

Germany's economy unexpectedly grew in the third quarter, avoiding a technical recession, federal statistics office Destatis reported Wednesday.

Gross domestic product expanded 0.2 percent quarter-on-quarter, Destatis said, on the back of rising government spending and household consumption.

The government is planning important changes to the institutional framework for foreigners invited for cover specific labor shortages in Greece, from the way that the real needs for labor in each region is recorded to the issuance of a residence permit for foreign laborers.

The number of registered unemployed dropped to 776,326 in September, falling by 60,387 individuals or 7.2% relative to September 2023, and 67,216 individuals or 8% relative to August 2024, the Public Employment Service (DYPA) announced on Friday.

Unemployment fell by 60,387 people (-7.2%) in September 2024 compared to the same month last year (832,713), while the rate was reduced even compared to August 2024 (843,542), which is considered the peak of the tourist season.

The number of job vacancies in Greece in the second quarter of 2024 amounted to 53,814, 54.4% higher compared to the corresponding quarter of 2023, according to Eurostat's seasonally adjusted data.

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.

The unemployment rate in the country fell to 9.5% in August this year, compared with an upwardly revised 11.4% in August 2023 and 9.9% in July 2024.

Unemployed persons totaled 444,402, a decrease of 90,496 from August 2023 (16.9%) and 17,551 from July 2024 (3.8%).

For women the unemployment rate was 11.6% from 15.1% in August last year and for men it was 7.7% from 8.6%.

Is the profile of tourists visiting Greece changing? Do they stay fewer days and therefore spend less money, or do they also choose budget accommodation solutions due to the recession in Europe? Is the peak season changing as the climate crisis turns July and August into uncomfortably hot months? Or is Greece losing higher-income visitors to travelers with much lower budgets?