Growing Job Vacancies Hamper Greek Economic Growth

The increasing number of job vacancies is emerging as a significant hurdle to Greece‘s economic growth, with the Union of Hellenic Chambers of Commerce (KEEE) estimating over 260,000 unfilled positions nationwide.

– Affected Sectors: The issue is most prevalent in large companies with more than 25 employees, particularly in the island regions, Thessaly, and sectors like construction, manufacturing, accommodation, and food services. Export-oriented companies also report high vacancy rates.
– Company Size: Larger companies face more challenges, with firms having 51 or more employees reporting an average of nine vacant positions.
– Reasons for Vacancies: The primary reasons are the reluctance of the unemployed to accept specific roles, influenced by working conditions and compensation, and a skills mismatch between available workers and business needs.

Survey Insights
A nationwide survey by the KEEE Research Institute and Palmos Analysis, conducted from February to May 2024 on a representative sample of 5,076 businesses, reveals:
– Overall Vacancies: 37% of businesses have job vacancies, rising to 60% for companies with over 25 employees.
– Sector Breakdown:
– Construction: 55% of companies report vacancies.
– Manufacturing: 50% of companies report vacancies.
– Food Service and Accommodation: 48% of companies report vacancies.
– Finance and Insurance: 16% report fewer problems.
– Education and Health: Face moderate vacancy rates of 23% and 32%, respectively.
– Export Companies: Nearly half (48%) report vacancies, a significant concern.

Job Categories in Demand
– Services and Sales Professions: 28% of businesses are seeking staff.
– Unskilled Workers and Manual Laborers: 27% of businesses report a high demand.
– Skilled Artisans and Related Professions: 23% of businesses report vacancies.

The persistent issue of job vacancies, particularly in vital sectors, poses a challenge to Greece’s economic progress.

(Source: Ekathimerini)