Unemployment

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.

For unemployment, IOBE estimates that the current year will decline to 10.3%

The labor market is picking up the pace, with hirings outweighing layoffs.

Unemployment, which reached historic highs of 27.2% in 2013, has now fallen to 10%, while the non-performing loan rate in Greek banks has dropped to 7%

A recent study sheds light on the challenges faced by migrant graduates in the European Union, highlighting the phenomenon of "brain waste," where overqualified migrants end up in low-skilled jobs or unemployment.

The total number of registered unemployed persons in the Greek Public Employment Service (DYPA) registered in March 2024 amounted to 976,373 people, a decrease of -59,207 persons (-5.7%) compared to the corresponding month of the previous year, March 2023.

Companies in different industries are grappling with growing job vacancies, pointing to difficulties in finding suitable workers, especially skilled personnel, to fulfill positions.

There were more than 330,000 vacant jobs across Türkiye in companies that employ more than 1 worker in the first quarter of 2024, according to a survey by the Turkish Employment Agency (İŞKUR).

Bank of Greece governor Yannis Stournaras has confessed that he can now "sleep at night, without worrying about fiscal instability" because Greece is on the "right path" in terms of the economy.

"If the government manages to maintain the primary surplus at 2% while making the necessary reforms, we have nothing to fear," he told the Delphi Economic Forum.