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1. Labour market situation in the country

2. Main concepts

Labour market situation in the country

According to the results of the Labour Force Survey for the third quarter of 2024   by the Hellenic Statistical Authority:

The number of employed individuals reached 4,323,859, showing a decrease of 0.1% compared to the previous quarter and an increase of 1.6% compared to the same quarter of the previous year. The number of unemployed individuals stood at 428,424, showing a decrease of 8.4% compared to the previous quarter and a decrease of 16.8% compared to the same quarter of the previous year. The unemployment rate in the third quarter of 2024 was 9.0%. The unemployment rate in the previous quarter (B’ 2024) was 9.8%, and in the respective quarter of the previous year (C’ 2023), it was 10.8%. The number of people not included in the labor force, or "people outside the labor force," meaning those who are neither working nor seeking work, was 4,263,142. Specifically, the number of people outside the labor force under 75 years old was 3,031,115. Their percentage increased by 1.2% compared to the previous quarter and remained unchanged compared to the same quarter of the previous year.

In particular, for the age group 15-19, the unemployment rate is 19%, for the age group 20-24 it is 15%, and for the age group 25-29, it is 16.1%.

National policies and Institutional Interventions for youth employment, especially after the economic and pandemic crises, focus on the holistic upgrading of the provided Vocational Education and Training, both initial and continuing, Lifelong Learning, and Youth at the level of (a) structures and infrastructure, (b) procedures, (c) content (Curriculum and Training Guides), and (d) certification. Additionally, the aim is to redefine and upgrade Adult Learning with special attention to adult general education. Finally, efforts are made to eliminate social exclusions through targeted interventions ensuring equal opportunities.

Main concepts

From the day someone completes the 15th year of life he/she can work legally in Greece. According to the Law of the Protection of Minors during Employment, any form of work is prohibited to those who have not completed 15 years of age.

Government agencies are taking action to facilitate young people to find work despite market failures after the long period of economic crisis, which has been exacerbated by the health crisis.

Some of the key concepts are:

• Employed: Individuals aged above 15.

• Unemployed: Individuals aged 15-74 who do not work.

• Inactive: Individuals who are neither employed nor unemployed.

• Self-employed with staff: Individuals who work in their own business or as freelancers for profit and employ at least one person.

• Self-employed without staff: Individuals who work in their own business or as freelancers for profit and do not employ anyone.

• Wage earners: Individuals who work for an employer in either the public or private sector.

• Assisting family business members: Individuals who help another family member in running the family business, provided they are not classified as employees or self-employed.

• Part-time employment, full-time employment.

• Temporary work: A job is considered temporary if the employer and employee agree that its end is determined by objective circumstances.

• Duration of unemployment: The time spent searching for work.

• Individuals in education: An individual is considered to be in education if they are attending any educational program, including basic education, supplementary education, vocational education, etc.