ELSTAT: Unemployment fell to 10.5% in the fourth quarter of 2023

It decreased its percentage in the country in the fourth quarter of 2023 by 10.5%, from 10.8% in the third quarter and by 11.9% in the fourth quarter of 2022, according to its data . In particular, the number of unemployed amounted to 488,667 persons, showing a 5% reduction compared to the previous quarter and 12,5% compared to the respective quarter of the previous year, according to ELSTAT. Of the total unemployed, 50.8% or around 248,000 people are long-term unemployed (seeking work a year or more). In women the unemployment rate rose to 12.9% and men to 8.5%. Elderlyly, the highest rates are recorded in groups 15-19 years (44.2%) and 20-24 years (26.9%). The ages of 25–29 years (18.2%), 30–44 years (10.6%), 45–64 years (6.8%) and 65 years old and over (6.8%). At the regional level of the country, West Macedonia (19.5%), Central Macedonia (14%) and Thessaly (12.3%). The Ionian Islands (12.1%), Epirus (11.3%), the North Aegean (11.2%), Crete (10.5%), East Macedonia- Thrace (9.7%), Western Greece (9.7%), Attica (9.2%), Central Greece (7.7%), the Peloponnese (6.8%) and the South Aegean (4.2%). From ElSTAT’s labour force survey data, it appears that the main reasons why unemployed people stopped working are either because their work was limited and ended (36.2%) or because they were fired (15.9%). The proportion of unemployed who have not worked in the past (new unemployed) is 23.2%. The proportion of job-seekers a year or more (long-term unemployed) is 50.8%. The majority of unemployed have completed up to secondary education (60.7%). The proportion of unemployed persons who declare that they are not registered in the IPP is 20.2%, while the percentage of those who declare that they receive an allowance or assistance from the IPP is 13.7%. The number of employees rose to 4,183,28 persons, showing a 1.7% decrease compared to the previous quarter and an increase of 1.2%, compared to the corresponding quarter of the previous year. Most of the employees work as employees (68.6%), while the proportion of self-employed persons without staff is significant (20.4%). The part-time rate is 7.5%, showing an increase of 13.2% compared with the previous quarter and a decrease of 6.3% compared to the corresponding quarter of the previous year. The percentage of persons with temporary employment is 10.7%, accounting for a decrease of 11.5% compared with the previous quarter and an increase of 17.6% compared with the corresponding quarter of the previous year. The professions that bring together the highest percentage of employees are those employed in the provision of services and sellers (22.5%) and professionals (21.6%). In relation to the previous quarter, the largest increase is observed in qualified farmers, farmers, foresters and fishermen (2.6%), while the greatest reduction is observed in unskilled workers, manual workers and small-scale workers (12.5%). In relation to the respective quarter of the previous year, the biggest increase is observed in service and salesmen (8.8%) while the largest decrease is observed in technicians and related professions (5.6%). The largest percentage of employees (53.3%) states that he worked 40-47 hours a reference week, while a significant percentage (17.3%) states that he worked 48 or more hours. The majority of employees (80.9%) state that they worked in the usual hours during the reference week. 7.2% of employees say they would like to work longer hours, 3.1% are part-time under-employed who would like to work more (and could start working longer within the next two weeks), and 1.3% have more than one job. Persons not included in the labour force, or “people outside the labour force” (people who do not work or seek employment), amounted to 4,360,932 persons. In particular, persons under the age of 75 were 3,126,273 persons. Their rate increased by 3.1% compared to the previous quarter and declined by 0.2% compared to the previous year’s respective quarter. The majority of people outside the 15-74-year-old workforce have either never worked in the past (44.6%) or spent more than 8 years since they stopped their last job (28.7%). Of the people who worked in the last 8 years, the largest percentage stopped working because he retired (53.4%), or because his work was limited and ended (21.3%). 91.4% of people outside the labour force say they do not want to work. 0.8% states they are looking for work but are not readily available to take it, while 4.3% states that they are available to take over work directly but are not looking. Source: RES – ICM