The Greek Labor Market Today
In today’s Greek labor market, there are significant challenges such as reduced employment opportunities, pay gaps for women, and disparities in the employment rates of different age groups.
Impact of the Economic Crisis
The economic crisis in Greece led to a sharp decline in employment rates and productivity levels. Despite some recovery in recent years, the country still lags behind other European nations in key indicators.
Government Initiatives
The government is actively working to bridge the gap with the rest of the European Union by focusing on increasing employment rates for young people, women, and older workers. By doing so, it aims to boost the country’s total income and add 400,000 individuals to the active labor market.
Current Employment Situation
Although unemployment rates have decreased to 10%, there are still 400,000 fewer people employed compared to pre-crisis levels. The government is striving to create more job opportunities and improve overall labor market conditions.
Expanding the Labor Market in 2021
In 2021, the labor market is facing challenges due to the impact of the COVID-19 pandemic. Unemployment rates have increased significantly compared to previous years, with over 8 million people out of work in 2018. This is a stark contrast to the 4.6 million unemployed individuals in 2008.
As a result, the government is implementing strategies to expand the labor market and create more job opportunities. One of the key initiatives is aimed at bringing in some of the over 3 million economically inactive people back into the workforce. By encouraging this group to re-enter the job market, the government hopes to reduce unemployment rates and stimulate economic growth.
