Unemployment

Employment in Greece has been growing at an impressive pace in recent months, with data from the Public Employment Service (DYPA) showing that in May, the number of registered unemployed decreased drastically, reaching pre-crisis levels, almost the same as in May 2011.

Registered unemployment fell 7.8% in May, totaling 854,181, compared with May 2022 and fell by 7.9% in comparison with April 2023, public employment service DYPA said in a report on Tuesday.

More specifically, 507,209 people, or 59.4% of total unemployed are long-term unemployed, while unemployed men accounted for 292,389 (34.2%) and women 561,792 (65.8%).

For every job vacancy in the entire Greek economy there are 18 unemployed people, according to the data the Hellenic Statistical Authority (ELSTAT) released on Thursday.

Greece's unemployment rate eased to 11.8% of the workforce in the first quarter of 2023, from 11.9% in the fourth quarter of 2022 and 13.8% in the corresponding period last year, the Hellenic Statistical Authority (ELSTAT) reported on Thursday.

Management consultants are more optimistic over the course of the Greek economy, the Hellenic Association of Management Consulting Firms (SESMA) said in a report released on Monday.

The GRe+1 index rose to 42.6% in the first quarter of 2023 from 30.6% in the fourth quarter of 2022, and 26.8% in the corresponding period last year.

Türkiye's unemployment rate inched up from 10.1 percent in March to 10.2 percent in April, the data from the Turkish Statistical Institute (TÜİK) have shown.

The number of unemployed people increased by 74,000 from March to 3.89 million in April.

The unemployment rate among men was 8.1 percent, and among women was 14.3 percent.

The Eurozone economy was in a technical recession in the first three months of 2023, according to data published earlier today by the European statistical office Eurostat, BTA reported.

"The International Monetary Fund has yet to record enough banks cutting back on lending, and that could prompt the US Federal Reserve to reverse course with the rate hike cycle". This was stated by the managing director of the IMF, Kristalina Georgieva, in an interview with CNBC, quoted by Reuters.

Greek unemployment rate fell to 11.2% of the workforce in April, from 12.7% in April 2022, but slightly up from 11.1% in March 2023, the country's independent Statistical Authority said on Thursday.

The number of unemployed people totaled 527,706 in April, down 11.9% from April 2022, but up 0.9% from March 2023.

The Cyprus Composite Leading Economic Index (CCLEI) continued its positive year-over-year growth trend in April 2023, providing further support for the economic forecasts of the Cypriot economy. Despite expectations of a slowdown, the economy is seen avoiding a recession, as indicated by the Economics Research Center (ERC) of the University of Cyprus' Economics Department.