Galery

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The layoffs and job cuts this July – the first month following the introduction of capital controls in Greece – have set a 15-year record. During most of the month, the banks were closed, and businesses – in a coma.

The ERGANI information system has recorded a loss of 16,658 jobs in just 30 days. Out of the 143,972 newly employed in July, only 16.07% are on the payroll, i.e. on a salary. Most of the new appointments, i.e. 67,714 people, or 47.3%, were only hired for a few days a week, whenever needed, etc. Another 53,131 fresh appointees, or 36.9%, were hired part-time, i.e. for less than the statutory 8.5 hours per day.

The big gaps in remuneration between part-time and full-time employed are expected to strongly affect insurance funds' performance in the first autumn months. The sharp reduction in the number of full-time jobs was registered in July: a peak month in terms of employment for the tourist season. 29,933 jobs were 'lost' compared to July 2014, with full-time appointments having dwindled threefold.

The hardest hit are those aged between 30 and 44, while employment for the 15-24-year-olds has improved slightly. Geographically, the biggest job losses were registered in Attica. Occupation-wise, most cuts (21,225) were made in education due to the school year's coming to an end. Conversely, the restaurant industry has seen 9,326 new appointments. However, they are almost twice as few as in the same month of 2014, when there were 15,958 of them.