Greece’s labor market achieved its strongest January-to-August performance since 2001, recording a net creation of 317,301 new jobs (hires minus departures). This record figure, tracked by the Ergani data system, highlights the continued recovery of the Greek economy.
Despite the record overall growth, employment figures underscore the highly seasonal nature of the Greek labor market:
As expected, August saw a slight decline of 2,542 net jobs. This “shrinkage” is predictable, as July and August traditionally experience a dip following the mass hiring blitz of the spring.
From February through June, the accommodation and food service sector hires staff extensively in anticipation of the summer tourism season. However, businesses frequently make “corrective moves” in July and August, reducing staff due to lower-than-anticipated occupancy or a general push to cut costs.
Many of these hires are made on fixed-term contracts, which expire toward the end of the summer, contributing to the reduction in jobs.
This seasonality is evident geographically, with island and coastal regions, such as the South Aegean (-2,188) and the Ionian Islands (-758), experiencing job losses in August. Conversely, areas with administrative and educational activities recorded job increases.
Promising overall trend for Greece’s labor market
Despite the seasonal fluctuation, the overall result for 2025 remains extremely promising. The net job creation of 317,301 for the first eight months surpasses the corresponding period last year (299,148) by 18,153 positions.
This positive trend is attributed to:
Increased employment in high-demand sectors.
The continued de-escalation of unemployment.
The sustained recovery of the economy following the pandemic and energy crisis.
Overall, the data confirms the labor market is firmly on a recovery path, with a continually expanding employment base.
Related: Unemployment in Greece Lowest Since 2008, Young Greeks Still Struggle for a Job
