Asked about the most contentious provision in the draft legislation, Minister Niki Kerameus said the "...13-hour workday is not mandatory, and it can be done three days a month"
Needs in the tourism sector have risen by 10% compared to last year, with 86,000 vacancies for roles such as housekeepers, chefs, spa therapists, and front-desk staff.
Labor costs are driven by two main components: wages and salaries, and non-wage expenses such as social contributions
The SBE has repeatedly highlighted that while other European countries support their industries against energy price shocks, Greece lags behind.
The largest share of the workforce was made up of professionals (22.8%) and service and sales workers (22.3%).
In its analysis, Capital Economics cites three factors as the reasons why it does not anticipate Greece’s employment significantly increasing in the coming years.
Greece ranks 4th in EU for labor market slack, mostly due to high unemployment levels, and has widest gender gap in the EU.
60 % of the companies admitted that attracting skilled employees has become more difficult due to wage levels.
A historic influx of migrants has changed the size, makeup and outlook of the U.S. labor market and the economy
Job vacancies have become a significant challenge for the Greek economy, as they continue to grow, halting the country’s economic growth.
According to a labor ministry report, only 0.44% of such eligible businesses and affiliates applied for the extraordinary measure allowing for a six-day work week
According to the latest data from Greece’s Statistical Authority (ELSTAT), job openings soared to a record high of 70,826 positions in the first quarter of 2024, marking a remarkable 115.6% annual increase.
By the fourth quarter of 2023, job vacancies per unemployed person had risen by more than 4, with the index reaching 446 units compared to 100 units in late 2019
Spokesman Pavlos Marinakis attempts to detail who exactly will be affected by six-day labor market liberalization; dispel concerns, deflect criticism
Sectors of "continuous operation" acquired right to have employees work a six-day week, at a higher pay scale but losing out on one of two days off
Small businesses have implemented more conservative wage hikes for lower-paying jobs, contrasting with a notable 10% decline in earnings for higher-paid positions.
Greece saw a significant rise in hourly labor costs, increasing by 7.9%, with the business economy experiencing a 10% hike.
Almost half of all college-educated migrants in Europe are overqualified for their jobs and twice as likely as natives to be unemployed, according to Lighthouse Reports
The shortages are due to a combination of factors including the annual hunt for seasonal employees at the start of the tourist season, persistent skills gaps in the IT sector, and a shortage of hands in Greece's booming construction industry.
Businesses are relying more on migrant workers as labor shortages persist, but economists warn of long-term dangers