Unemployment

The unemployment rate rose in December 2016 in comparison to last year over the same period, according to data released by the Greek Manpower Employment Organisation (OAED). The registered jobless amounted to 1,072,652, which is 24,991 more than the 1,047,661 a year earlier. Even in comparison to the previous month of November the number went up by 6,236.

According to data announced by the OECD, employment rates in Greece reached 52.4% in the third quarter of 2016. The figure, which focused on the age group 15-64, revealed a rise compared to the second quarter’s 51.1%. However, the employment rate lags behind the Eurozone which stood at 65.5% in the third quarter from 65.3% in the second quarter.

Bulgaria has to continue to improve collectability of taxes and take measures for reducing the size of the grey economy, recommended the European Commission.

The World Bank warned that, at this rate of labour productivity, an entire generation will be needed in order to reach the average levels of income and living standards in the EU.

The average monthly wage in Bulgaria will exceed BGN 1,000 in 2017, forecast experts of UniCredit Group. The forecast was made at the financial forum Euromoney in Vienna, reported BTA.

Turkey's unemployment rate rose to 11.8 percent in October 2016 marking the highest such rate since March 2010, when it hit 12.8 percent, the Turkish Statistical Institute (TÜİK) announced on Jan. 16. 
       

BELGRADE - Minister of Public Administration and Local Self-Government Ana Brnabic on Tuesday announced for 2017 a wave of job cuts in public enterprises, which now have around 147,000 employees, adding that around 5,000 public administration jobs would be shed this year.

Unemployment in December 2016 was 8%, compared to 7.9% in October and November, showed data of the National Employment Agency.

The increase in the number of people registered in labour bureaus was 3,035 and the reason is reduced business activity at the end of the year.

Greece's jobless rate slightly dropped to 23 percent in October from 23.1 percent in the previous month, statistics agency ELSTAT said on Thursday.

The number of officially unemployed reached 1.1 million people. Hardest hit were young people aged 15 to 24 years, with their jobless rate dropping to 44.2 percent from 48.8 percent in the same month a year earlier.

As the Hellenic Statistical Authority (ELSTAT) reported an increase in job vacancies in the third quarter of the year, experts say that joblessness in Greece is down to structural unemployment.

The number of unemployed Greeks registered at the Greek Employment Organisation (OAED) exceeded 1 million in November, according to newspaper “Kathimerini, which cites expert sources. The organisation’s registrars had 28,713 additions over the past month raising the number of jobless to a total of over 1 million.