BUSINESS

Employment declines by more than 56,000 jobs in October

TAGS: Economy

Employment shrank considerably last month, as according to the Labor Ministry’s Ergani database, salaried jobs declined by 56,473 in October, with the balance between hirings and departures negative for the fourth month in succession.

The salaried employment data showed 183,923 hirings last month against 240,396 departures, of which 65,835 were voluntary and 174,561 were terminations of contracts or expired fixed-term contracts. Furthermore, six out of 10 hirings (58.77 percent) concerned flexible forms of employment.

In total, the balance over the first 10 months of the year remains positive, amounting to 116,548 new jobs, but lags the balance recorded in the January-October 2014 period by over 3,700 jobs.

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