Eurobank: The rate of young people who are neither working nor studying is 14.2%
Eurobank reports that 14.2% of young people aged 15-29 in Greece are not employed or in education, revealing significant challenges in labor market absorption.
According to Eurobank's analysis of Eurostat data, Greece faces significant challenges in integrating young people aged 15 to 29 into the labor market, with 14.2% of this demographic neither employed nor participating in formal or informal education. This percentage ranks as the fourth highest in the European Union, where the average is 11.1%. Although this figure has decreased from a concerning 28.5% recorded in 2023, it remains significantly above the European Union's target of reducing this rate to 9% by 2030 for these young citizens.
The report suggests that a persistent lack of job opportunities and educational engagement is raising concerns about potential brain drain, as young Greeks may look abroad for better prospects. The issue is exacerbated by economic conditions and industry demands that do not align with the skill sets possessed by the youth. As Greece strives to enhance its labor market conditions, this demographic's disengagement poses a challenge to the nationβs economic future and workforce sustainability.
Political and economic policies are needed to address the high rates of inactivity among young people, with a focus on creating pathways into both employment and education. Failure to do so may result in a worsening cycle, where young talent continues to leave the country, impacting the long-term economic health and viability of Greece's labor market and economy overall.