ECONOMY

Data appear to confirm that labor market is stabilizing

November was the second consecutive month during which Greece posted a job creation deficit, as sackings outnumbered hirings by 17,214 due to seasonal effects on the tourism and food service sectors.

However, data from the Labor Ministry’s Ergani data system for the first 11 months of the year show that 113,489 more jobs were created than those lost, while the deficit recorded in October and November, after seven straight surplus months, was the smallest since the start of the recession in 2008.

“Labor flow data in the private sector for November confirm and appear to consolidate the stability trend in the labor market,” stated minister Yiannis Vroutsis on Monday.

“Therefore the January-November 2013 period has seen a [job] surplus for the first time since the start of the crisis,” he added.

Last month’s data showed that most of the job losses (79,911 out of 115,322) affected people aged over 30 years.