Optimism for her growth of the Greek financial system, which “ran” at a price of two.1% within the first quarter of the yr, is generated by the course of key financial indicators. These are indications that predict the continuation of its progress charges GDP and the second quarter of the yr. Nevertheless, a giant “thorn” stays the scarcity workers in key sectors of the financial system, with tourism and eating places on the forefront.

Within the first quarter of the yr, in accordance with ELSTAT knowledge, job vacancies jumped by 115.6% to 70,826 from 32,850 within the corresponding quarter final yr, a drag on the financial system. Beneath the load of this unfavorable growth, the federal government is contemplating measures that may also concern unemployment advantages with a view to strengthen the incentives to search out work. These are anticipated to concern each the unemployment profitin addition to the seasonal employment allowance obtained by tourism and catering staff.

He “blames them” for the hundreds of vacant jobs

The optimistic indicators

The primary parts that make up the optimistic image for the Greek financial system are the next:

  • The investments recovered within the first quarter of the yr exhibiting a 2.9% enhance after falling 5.7% within the final quarter final yr.
  • THE manufacturing index in building rose 5% within the first quarter of this yr in comparison with the identical interval final yr. On the similar time, personal building exercise noticed an explosive enhance of 77.8% in February (on an annual foundation) and 44.4% within the first two months of the yr in comparison with the corresponding one in 2023.
  • THE enterprise turnover within the financial system as a complete grew 16.1% in April on an annual foundation. The biggest enhance of 49.7% was recorded within the turnover within the Development 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 benhancing the financial local weather in Could, based mostly on the IOBE index, as a result of rise in Business, Development and Retail Commerce, whereas there was a slight decline in shopper confidence. Specifically, there was a rise in expectations in Business, to 109.2 factors in Could, from 108.7 factors within the earlier month, larger than a yr in the past (105.1 factors).
  • The outstanding enhance in salaries and wages in key sectors of the financial 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 Development, 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

On the other aspect, nevertheless, the dearth of staff in key sectors of the financial system and primarily in tourism and to focus they swell 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 have been introduced by the Prime Minister, Kyriakos Mitsotakis, in an interview final Monday, stressing that the unemployment profit shouldn’t be a disincentive to work. The mark of the modifications was given by the pinnacle of the financial 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 tourism and catering staff, he acknowledged that it’s a disincentive to search for work.

With data from APE-MPE

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