The Greek labor market is experiencing a simultaneous rise in the employment rate and an increase in job vacancies, Alpha Bank noted in a financial bulletin on Wednesday.
The lender’s analysts say this phenomenon is mainly attributed to the lack of correspondence between skill supply and demand in the labor market. They add, “The persistence of this discrepancy is the main reason for the return to pre-pandemic levels of the long-term unemployed rate among the jobless, as they nowstate they are seeking work, practically returning to the work force. In contrast, the employment rate among women is improving.”
The bulletin points out that despite the significant decrease in Greece’s unemployment rate in recent years, job vacancies have not gone down, with their rate remaining largely unchanged at 0.6% of jobs since 2017.
“The increase in employment in Greece in 2021 mostly concerned university graduates, while the rate of employment for holders of technical or other education degrees actually went down,” Alpha analysts noted. They added that according to the 2020 Skills Forecast by Cedefop, the jobs with the highest demand in Greece by 2030 will be in services, sales and agriculture.