Sunday February 1, 2015 Search
Weather | Athens
16o C
13o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Greece unemployment to remain near 27 pct through 2015, OECD predicts

Greece's unemployment rate will remain around 27 percent through to the end of 2015, according to OECD estimates made public on Wednesday.

“Despite moderate signs of recovery across many OECD countries in 2014, the unemployment rate in Greece remains stuck at close to its highest level since the onset of the economic crisis (27.2 percent as of May 2014),” the Paris-based organization said in its 2014 Economic Outlook.

“OECD projections suggest that the expected joblessness rate in Greece will remain high (around 27 percent) through to the end of 2015,” the report said.

According to OECD data, debt-hit Greece shows one of the highest shares of long-term unemployment among OECD economies with the figure soaring from 49 percent to 71 percent between Q4 2007 and Q1 2014.

Long-term unemployment, the report warned, is a contributing factor to structural unemployment as a result of skill depreciation and diminishing motivation to look for a job.

The report said Greece – particularly the private sector – saw one of the biggest drops in real wages across OECD countries, more than 5 percent per year on average since the first quarter or 2009.

“While the sharp decline of wages contributed to partially reverse the gap in unit labor costs with Germany, and restore external competitiveness, hourly labor productivity growth has remained stubbornly negative since the onset of the crisis,” it said.

The report also took issue with labor market security and the quality of working environment in Greece. It said the country ranked near the bottom (31st place) of the OECD table.

“Greek workers face excessive job demands with insufficient resources to meet their work requirements. This situation not only hinders productivity but can have strong negative effects on workers' health,” it said.

ekathimerini.com , Wednesday September 3, 2014 (14:23)  
Coalition ally seeks tax amnesty to get cash back to banks
Dijsselbloem says Greece has to decide how to move ahead
ECB’s Constancio signals Greek waiver may end if program dropped
Greece starts countdown to cash crunch saying bailout over
A week in and Greece´s new leftist PM sticks to tough line, for now
Judging from Prime Minister Alexis Tsipras' first week in office, Greece's new leftist government is determined to take the hard-line, anti-bailout stance that international investors and Eu...
Greece starts drive to sell new debt deal to doubting Europe
Greece's leftist government on Sunday began its drive to persuade a sceptical Europe to accept a new debt agreement while it starts to roll back on austerity measures imposed under its exist...
Inside News
BASKETBALL
Panathinaikos preserves perfect home record
After yet another great performance at home, Panathinaikos defeated Galatasaray 86-77 in Athens on Friday to get to three wins in five games at the Euroleague top-16. The Greek champion shoo...
SOCCER
Gattuso: Unpaid OFI players couldn´t buy food
Former coach Gennaro Gattuso has lifted the lid on the plight of crisis-club OFI Crete which has been banned from playing in the Super League until it clears mounting debts with its staff. T...
Inside Sports
COMMENTARY
The dogma and the command center
We have reached a critical juncture. We have a new, inexperienced government trying to see if “the great negotiations” discussed by everyone, be they from the left or the right, on TV over t...
EDITORIAL
Silence will not be forgiven
It’s time for a turn toward realism, caution and logic. The negotiations with our partners and lenders must be concluded swiftly before the remaining healthy parts of the country’s productiv...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. A week in and Greece´s new leftist PM sticks to tough line, for now
2. Greece starts drive to sell new debt deal to doubting Europe
3. Coalition ally seeks tax amnesty to get cash back to banks
4. France open to easing Greek debt burden, says finance minister
5. Poll shows most Germans want Greece to stay in eurozone
6. France´s Sapin says Greece has no future outside the euro
more news
Today
This Week
1. Dijsselbloem says Greece has to decide how to move ahead
2. Greece shakes Europe's political kaleidoscope: expect the unexpected
3. France open to easing Greek debt burden, says finance minister
4. Greece offers olive branch to seek allies
5. The dogma and the command center
6. Poll shows most Germans want Greece to stay in eurozone
Today
This Week
1. Greek Elections 2015 | LIVE
2. SYRIZA heads for historic victory but without majority
3. EU must accept that Greek debt relief is inevitable
4. SYRIZA's win will test institutions
5. Greek Elections 2015: The day after | LIVE
6. Athens may veto further EU sanctions against Russia
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2015, H KAΘHMEPINH All Rights Reserved.