Unemployment

Turkey's economy grew 5.7% in the first quarter, in line with expectations, official data showed on Friday, driven by strong domestic demand. Growth is expected to slow during the rest of the year as the central bank's aggressive monetary tightening in the face of soaring inflation weighs on economic activity.

(Reuters)

The number of unemployed people in Greece has dropped below 900,000 for the first time since 2011, government spokesperson Pavlos Marinakis said on Thursday during his daily press briefing.

He also noted an increase in salaried employment in the private sector in April 2024, based on figures from the Ergani database on employment.

In 2019, a record year for tourism, 152,787 people received seasonal unemployment benefits. Last year, the number increased to 172,485 people.

The Ergani employment database of the Ministry of Labor has recorded a large increase in full-time employment in April, with hiring significantly outweighing layoffs, as 132,352 new jobs were created in just one month.

Registered unemployment is at a 13-year low, according to data from the Public Employment Service (DYPA), as the number of unemployed fell below 900,000 for the first time since April 2011.

Unemployment has remained at a double-digit rate for 14 years.

Even in the last 18 months of contraction, it has failed to drop below 10%, with experts pointing to a pool of 500,000 unemployed at the hard core of the phenomenon.

Its rate may have decreased last March to 10.2% from 10.8% in February, but it remained above the 10% barrier.

Even though limited, the decline in Türkiye's unemployment rate continues for a second month in a row.

The jobless rate dropped from 8.7 percent in February to 8.6 percent in March, the Turkish Statistical Institute (TÜİK) said on May 10.

The number of unemployed people fell by 19,000 from February to March to a little more than 3 million.

Britain exited recession with stronger-than-expected growth in the first quarter of 2024, official data showed Friday, in a boost to embattled Prime Minister Rishi Sunak ahead of this year's election.

The minimum monthly salary in Greece stood at 650 euros before the current government came to power and has now increased to €830, Deputy Labor & Social Insurance Minister Vassilis Spanakis noted in an interview with Skai radio on Wednesday.

Unemployment in Cyprus dipped to 6% in March, aligning with the EU average and staying below the eurozone average of 6.5%, as per data published by Eurostat on Friday.

Seasonally adjusted figures revealed a decline from 6.4% in the prior month and 6.3% in March 2023. The number of jobless people also decreased to 30,000 from 32,000 in February and 31,000 in March last year.