Menial, Low-Paid Jobs Cut Greece’s Unemployment Rate

OAED - Manpower Employment Organization in Athens. (Photo by Eurokinissi/Giorgos Kontarinis)

ATHENS – A drop in Greek unemployment the government touted as another sign of a recovery was largely because of people being hired for low-paid positions, the industrialists organization the Hellenic Federation of Enterprises (SEV) said.

The group said that most of the new positions were in the range of 501-600 euros ($575-$688) before taxes, after the Hellenic Statistical Agency (ELSTAT) reported the jobless rate for October, 2017 fell to 18.6 percent from 21 percent the same month a year earlier, and that the number of working people went up 2.1 percent.

In its monthly economic bulletin, SEV examined the increase in full- and part-time employment last year by processing the Ministry of Labor’s Ergani data, said Kathimerini, showing a 26 percent expansion in part-time labor compared to four years earlier, and 24 percent of growth in full-time employment from 2014.

SEV noted that the higher the salary is, the smaller the growth rate, with wages relatively stable, ranging from 1,020-1,060 euros ($1170-$1216) since 2014, with a slight increase recorded last year.

The SEV report also estimates that the significant increase in jobs seen in small enterprises could be partly explained by the rise in the number of workers who appear to be employed by more than one business, from 44,800 in 2014 to 88,800 in 2018.