Job vacancies are a thorn within the facet of the economic system – 2024-06-18 17:59:31

The barrage of constructive information from key financial indicators confirms the dynamic development of the Greek economic system, which ran at a charge of two.1% within the first quarter of the yr. These are sturdy indications that predict the continuation of excessive GDP development charges within the second quarter of the yr.

A giant thorn, nevertheless, stays the shortage of staff in key sectors of the economic system with tourism and catering on the forefront. Within the first quarter of the yr, in response to ELSTAT knowledge, job vacancies jumped by 115.6% to 70,826 from 32,850 within the corresponding quarter final yr, a drag on the economic system.

Beneath the burden of this unfavorable improvement, the federal government is contemplating measures that may even concern unemployment advantages with a purpose to strengthen the incentives to search out work. These are anticipated to concern each the unemployment allowance and the seasonal employment allowance acquired by tourism and catering staff.

The symptoms of the economic system

The weather that make up the constructive image for the Greek economic system are the next:

• Investments rebounded within the first quarter of the yr, displaying development of two.9% after falling 5.7% within the last quarter of final yr.
• The development output index rose 5% within the first quarter of this yr in comparison with the identical interval final yr. On the identical time, non-public development exercise noticed an explosive improve of 77.8% in February (on an annual foundation) and 44.4% within the first two months of the yr in comparison with the equal of 2023.
• The turnover of companies in your complete economic system elevated by 16.1% in April on an annual foundation. The biggest improve of 49.7% was recorded within the turnover within the Building sector, adopted by Mines-Quarries with a rise of 34.9%, Wholesale-Retail commerce with 18.7%, Skilled, Scientific and Technical Actions with 26.6%.
• The development of the financial local weather in Could, based mostly on the IOBE index, because of the rise in Trade, Building and Retail Commerce, whereas there was a slight decline in shopper confidence. Specifically, there was a rise in expectations in Trade, to 109.2 factors in Could, from 108.7 factors within the earlier month, increased than a yr in the past (105.1 factors).
• The outstanding improve in salaries and wages in key sectors of the economic system, as recorded in ELSTAT knowledge. Particularly on an annual foundation within the first quarter of this yr there was a rise of 24.6% in Building, 22.3% in Administrative and Assist Actions, 16.8% in Skilled, Scientific and Technical actions, 15.8% in Wholesale and Retail commerce, 12 .9% in Manufacturing, 16% in Transportation and Storage.

Labor shortages

However, nevertheless, the scarcity of staff in key sectors of the economic system, particularly in tourism and catering, is growing yr by yr. That’s the reason the federal government is contemplating measures that may take away the disincentives to supply work in these sectors whereas additionally calling on companies within the wider tourism sector to pay staff higher.

The federal government interventions had been introduced by the prime minister in an interview final Monday, stressing that the unemployment profit shouldn’t be a disincentive to work. The mark of the adjustments was given by the pinnacle of the monetary workplace of the prime minister, Alexis Patelis, saying that the unemployment profit should be linked to the quantity of the wage and the size of service, i.e. the years of insurance coverage of the workers. Concerning the seasonal allowance granted to staff in tourism and catering, he acknowledged that it’s a disincentive to search for work.

Supply: RES-MPE