Labor Market Trends in Greece over the Crisis Period, 2009-2014

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Published: Jun 23, 2017
DOI: https://doi.org/10.12681/scad.14130
Keywords:
Τrends population employment unemployment effects Greece Eurozone
Maria Botsari
Panteion University
Stavros Zografakis
Agricultural University of Athens
Abstract
In this paper we present key statistics on the labor market of Greece and the Eurozone over the crisis period 2009-2014, with particular emphasis given to youth and longterm unemployment and its consequences. Statistics on the previous occupations of the unemployed, methods used for seeking work and type of employment sought are also presented. Used data reveal that the change of the working-age population in Greece during the crisis follows a U-shape over age with a greater decline occurring in the 25 to 29 years age group as a result of high emigration of the young age group attributable to the decline in economic activity. Greece suffers from unprecedented and socially unacceptable rates of unemployment with the youth and long-term unemployment rates being even more alarming and worrying as they may have such devastating and long-term debilitating effects on young people that have been called ‘scarring effects’. Those scarring effects on young people are interpreted in the literature’ in terms of two factors, the first factor relating to the depreciation of their human capital and readiness to work and the second relating to the so-called ‘unemployment stigma’.
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Author Biographies
Maria Botsari, Panteion University
Maria Botsari holds a B.Sc. in Economics from Athens University of Economics and Business and a M.Sc. in Finance from Warwick Business School, University of Warwick. She is a Ph.D. candidate at the Department of Economic and regional Development of Panteion University of Social and Political Sciences. She is currently working at the Bank of Greece as Deputy Head of the Reserves Settlement Unit. Her research interests lie in the areas of Labor Market Trends, Poverty and Social Exclusion, Inequality, Well-Being and Social Policy.
Stavros Zografakis, Agricultural University of Athens
Stavros Zografakis is Associate Professor at the Department of Agricultural Economics & Rural Development. He has a Bachelor of Science degree (BSc) (1985) and a Ph.D. (1997) from the Department of Economic Sciences of the National and Capodistrian University of Athens. His academic and professional interests are in the areas of general equilibrium models, social account matrices, income distribution, Inequality and Poverty, Migration, Consumer Prices and International Competitiveness
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