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Employment in Greek commerce shrinks


Employment in Greek commerce shrinks

Employment in Greek commerce shrinks
The last year has been particularly difficult for the Greek economy in general. With austerity measures reigning supreme, and the government having to call in repeated bail outs, the average person in the country has found themselves living in difficult times.

However, it is the employment sector that has found itself suffering more than most during this difficult time, as businesses see their confidence heading ever lower against a backdrop of problematic financial conditions, meaning that they have had to cut jobs and offer far-fewer new positions.

A new report expected out on Monday (November 19th) is set to confirm there are difficult times prevalent throughout 2012, and will predict that these conditions are going to become ever-harder to negotiate in 2013 for employers.

The National Confederation of Greek Commerce (ESEE) is expected to confirm that the country has shed 12 per cent of its jobs in the commerce sector over the course of the last 12 months alone. This has come in the shape of 93,500 positions shed by companies in precarious financial situations.

It also confirms that the number of employees who are currently working in this market has fallen to 673,400. This, the report said, represents the smallest number of employees in Greek commerce since 1999.

Further problems are still to come though, with seven out of ten businesses expecting sales and profits to fall even further throughout the next year, and six in ten predicting that they will struggle to meet the payments that they need for bills and other expenses.

Surprisingly, most of the losses in the past 12 months have come from big businesses, with smaller companies managing to hold firm in difficult times. Eight out of every ten small firms said they had chosen not to get rid of staff in the past year.

Posted by Alex DonnellADNFCR-1275-ID-801490779-ADNFCR

Posted: 19 November 2012 18:09:00
Filed under: Europe
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