A total of 131,491 jobs were lost in October, according to the Ergani system, a number that constitutes the second worst record in the last 23 years.
This was the third consecutive year with such large losses (-131,496 jobs in 2023 and -115,856 in 2022). During this month, there is traditionally a negative impact on the labor market, as it marks the end of the summer tourist season. A noticeable decline in full-time contracts was recorded in October, compared to flexible forms of work, which seem, for another month, to be recovering.
This year’s negative performance is only five job losses away from the record of 131,496 losses that occurred last year, in the corresponding month.
The data of the “Ergani” system show that this year, compared to October 2023, there was an equal increase in both hiring (10,246) and layoffs (10,241). However, in any case, total hiring in October 2024 (291,728) continued for another year to fall significantly short of layoffs (423,209).
However, the balance continues to be positive with 171,253 new jobs, although limited by 9,363, compared to the 180,616, which were recorded in the corresponding period of 2023.
Regarding the type of contracts signed in October, the data show that of the total number of hires (291,718), 46.18% or 134,701, concerned full-time employment. The remaining 157,017 (53.82%) come from flexible forms of work. More specifically, in October there were 128,210 part-time hires (43.95%) and another 28,807, with a rotational work contract (9.87%).
The employment balance was negative, both for men (-69,037) and women (-62,454). All age groups have a similar negative picture. The largest losses (-45,836 positions) were identified in workers aged 45-64, that is, those who are closer to retirement, and therefore may have had higher salaries. The 30-44 age group, which is considered the most productive, followed with 36,332 job losses, while 29,255 jobs were also lost among young people (15-24 years old).
