ECONOMY

Labor market seems to be standing still

Stagnation will likely be the word to describe the labor market in Greece for the last quarter of the year, the quarterly survey by the Manpower Organization (OAED) suggests, as the vast majority of employers are planning to maintain the same number of employees. The survey, which investigates the possibilities of hiring staff in the Greek and international market, showed that conditions have actually improved slightly for Q4 compared with Q3 of 2009, but are far worse than the last quarter of last year, with employment prospects dropping by 12 percentage points. «Anyone looking for work should be prepared for a labor market moving at a very slow pace,» says OAED’s executive director in Greece, Venetia Koussia. She added that the number of employers who have suggested they will keep the same staff and not lay people off is the highest this year. «In a world where everything changes constantly, this finding constitutes a message of stability for employees,» says Koussia.