A Balancing Act at Times of Austerity: Matching the Supply and Demand for Skills in the Greek Labour Market

43 Pages Posted: 1 Feb 2014

See all articles by Konstantinos Pouliakas

Konstantinos Pouliakas

Cedefop; University of Aberdeen - Business School; IZA Institute of Labor Economics

Abstract

This paper provides an evidence-based assessment of the current situation prevailing in the Greek market for skills and jobs. The synthesis of available skills intelligence for Greece, the country most severely affected by the global economic crisis of 2008, is crucial as it is currently faced with tough decisions regarding the allocation of limited resources in the face of economic austerity. The paper engages in a comparative overview of Greece's performance on flagship Europe 2020 indicators on education and employment in relation to the EU.An empirical analysis of the incidence and determinants of skill mismatches in the Greek and EU job markets is also undertaken, using data from several European data sources. It is argued that a stronger vocational education and training pillar may constitute a valuable option for strengthening the links between the initial educational system and the labour market in Greece. But tackling skill mismatch requires skill development and skill utilization policies in the workplace. A stronger commitment to enhancing the skill content of jobs by employers via the adoption of high performance workplace practices, investment in continuous training, less reliance on casual labour and policies to support small and medium-sized enterprises in the war for talent are necessary if Greece is to make the most of its rich skills reserves.

Keywords: skills, skill mismatch, Greece, vocational education and training, overeducation, shortages

JEL Classification: C25, I29, J11, J20, J24, J69

Suggested Citation

Pouliakas, Konstantinos, A Balancing Act at Times of Austerity: Matching the Supply and Demand for Skills in the Greek Labour Market. IZA Discussion Paper No. 7915. Available at SSRN: https://ssrn.com/abstract=2389283

Konstantinos Pouliakas (Contact Author)

Cedefop ( email )

PO Box 22427
Finikas (Thessaloniki), 55102
Greece

University of Aberdeen - Business School ( email )

Edward Wright Building
Dunbar Street
Aberdeen, Scotland AB24 3QY
United Kingdom

IZA Institute of Labor Economics ( email )

P.O. Box 7240
Bonn, D-53072
Germany

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