A negative trend has been recorded in the labor market for nearly the entire second half of last year. According to the Ergani system, a total of 268,859 jobs were lost during this period. Notably, in the corresponding second half of 2023, total job losses were limited to 188,269—80,590 fewer compared to the same period in 2024.

Specifically, 86,686 jobs were lost in November (the worst performance for this month since 2001), while another 14,218 jobs were lost in December. It is particularly striking that just a year earlier, in December 2023, employment had actually increased by 18,496 positions.

The problem is evident in both hiring and layoffs. More precisely, there were 219,773 new hires in the last month of the previous year, but this figure was 4,331 lower than the 224,104 recorded in December 2023.

Similarly, layoffs in December 2024 also showed a negative trend, reaching 233,991—an increase of 28,383 compared to the 205,608 layoffs recorded in December 2023. As a result, the annual balance for December was negative by 32,714 jobs. By the end of 2024, the overall hiring-firing balance remained positive by 70,349 jobs, but this was significantly lower than the 116,649 recorded in 2023—a decrease of 46,300.

At the same time, it remains uncertain whether this negative trend will continue, particularly given the potential impact of seismic activity on seasonal employment in the Cyclades.

Meanwhile, on March 1, the nationwide expansion of the Digital Card to the tourism and catering sectors will begin—a measure expected to bring changes to the composition of small and medium-sized businesses. According to the Ergani system, nearly three-quarters of employees in these industries were reported as working under part-time contracts, a statistic that the Ministry of Labor associates with the shadow economy.

Market experts suggest that the implementation of the Digital Card could lead to job reductions, as employers, in order to avoid penalties, will be required to pay higher contributions for full-time employment.

Notably, December’s data shows that out of the 219,773 new hires, the majority (51.67% or 113,559) involved flexible forms of employment. Specifically, there were 89,884 part-time hires (40.90%) and 23,675 hires under rotating shift contracts (10.77%). However, for the entire twelve-month period from January to December 2024, full-time employment remained dominant, albeit marginally, accounting for 51.98% of all hires.

By sector, the largest job losses (-4,755) were recorded in accommodation services, highlighting the significant pressure the tourism industry is facing in terms of job losses. This was followed by the food manufacturing industry (-3,192), wholesale trade (-2,243), travel agencies (-848), and personal services (-813).