In 2023, Greece reported one of the EU’s highest levels of labor market slack at 16.3%, reflecting significant untapped workforce potential. Across the EU, 12% of the extended labor force—over 27 million people—remained underutilised due to unemployment, underemployment, or other factors, with Spain, Italy, and Sweden also showing high slack rates. This data underscores ongoing challenges in optimising labour resources across member states.
Tag: EU labor market
According to Eurostat, over 35% of workers in Spain, Turkey, and Greece were overqualified for their jobs in 2023, with non-EU citizens facing the highest rates of overqualification in the EU. Maria Elo, a professor of international business, described this phenomenon as "brain waste," highlighting the economic and social implications of underutilized talent in the labor market.