The role of the IT sector as a locomotive of employment in Greece is confirmed, which, as Labor Inspectorate-SEPE notes, is emerging as the most competitive in terms of recruitment. The strongest sector in Greece, in terms of hiring intention in the 1st quarter of 2023, is Information Technology with employment prospects reaching 27%.
This percentage is up 22% from the previous quarter and up 15% from a year earlier. “We must face the challenge of the rapid increase in overall employment prospects in the IT industry (27%) and look for those talents who will respond to existing and future roles”, comments ManpowerGroup Greece.
Overall, the ManpowerGroup Employment Outlook Survey for the 1st quarter of 2023 (January-March) shows encouraging signs for employment prospects in the Greek market. Employment prospects return to a positive sign and stand at 7%, up by 9% compared to the last quarter of 2022. In addition, 28% of the 520 Greek employers who participated in the survey state that they expect an increase in the number of employees, 46 % do not expect any change, while 22% predict a decrease.
Top place for IT
The sign of the overall narrative on the Employment Outlook remains positive for almost all industries, as Greek employers expect an increase in the hiring rate in 7 out of 9 industries. No differentiation is expected in the “Communications” sector, while only in “Other Services” a decrease of 6% is expected. After the Information Technology sector, which gathers the strongest employment prospects, follows Industry and Construction with employment prospects of 13%, increased by 29% compared to the immediately previous quarter and decreased by 6% compared to the 1st quarter of 2022. The most strong region in terms of hiring intention in Greece is Northern Greece with an overall employment outlook of 18%, demonstrating the region’s dynamism and recording an increase of 21% compared to the 4th quarter of 2022 and 17% compared to the 1st quarter of 2022. Positive employment outlook (3%) are recorded in the Greater Region of Greece, marking an increase of 13% compared to the last quarter of 2022 and a decrease of 2% compared to the 1st quarter of 2022. Negative employment prospects are noted in the region of Attica (-2%).
Employers in organizations with more than 250 employees are more optimistic, expecting the largest increase in employment +21% up 7% from Q4 2022 and up 11% from Q1 2022. More a weak staffing climate (-1%) prevails in companies with a staff of 10-49 people.
Global prospects
ManpowerGroup’s Employment Outlook Survey for Q1 2023 shows that the global hiring climate remains strong. Hiring intentions are positive in 39 of the 41 markets surveyed, with an overall net employment outlook of 23%, but down 6% from Q4 2022. The strongest hiring intentions for the next quarter are in Panama (39%), Costa Rica (37%) and Canada (34%). The weakest in Poland (-2%) and Hungary (-8%). Employers in Europe, the Middle East and Africa (EMEA) report subtly reduced hiring expectations: 18% versus 21% in the immediate prior quarter. 36% of employers in the region expect an increase in employment prospects (the corresponding percentage in Greece is 28%), 20% predict a decrease, while 40% expect no change.
Latest News
BoG Figures Confirm Banner Year for Greek Tourism in 2023
20.6 billion euros in related revenues topped the previous year’s figure by 16.5%
Piraeus Bank to Propose First Dividend in 16 Years
Piraeus Bank has forecast profits of roughly 900 million euros this year, rising to one billion euros next year
Eurostat: Inflation in Greece Eases to 3.2% in April; 2.4% in Eurozone
The rate of increase for food prices was up by 4.9% in April 2024, compared to 4.8% in the previous month
ELSTAT Feb. Retail Turnover Drops by 3.8%, Sales Volume Plummets by 9.8%
Additionally, the seasonally adjusted General Volume Index for Feb. 2024 experienced a 3.8% decrease compared to the previous month of the same year
Greek Buyers Lead Return to Vacation Home Market
In the last six months, Greeks have made a surge into the vacation home market, notably without relying on loans
NBG Receives BBB Investment Grade by DBRS
This makes NBG the first Greek bank to regain Investment grade status, nearly 15 years after the onset of the Greek financial crisis
Greek Gov. Budget: Primary Surplus 3bln in Q1 2024
Value Added Tax (VAT) revenues reached 5.876 billion euros, down by 16 million euros compared to the target
Athens’ Public Transport System Gets Green “Facelift”
The future of urban transport in Greece's capital city includes electrification, hydrogen, kinetic energy and even heighted security and monitoring through the use of drones
Athens Int’l Airport: 16.2% EBITDA Increase and 16.5% Passenger Growth in Q1 2024
Following the strong performance in the first quarter, the company revised its annual passenger traffic forecast for 2024 to 29.9 million passengers, a 6.3% increase (or roughly 1.8 million passengers) from 2023 levels.
Oxford Economics Report: Greek Economy is Just Below Risk Zone
However, the report points to a persistent challenge in the form of commercial credit risk, which remains high at 8 out of 10, ranking Greece 104th internationally