Demographics, training and labor shortages

Greece is grappling with workforce shortages in both manual and specialized sectors of the economy. Discussions and corresponding policies are focused on identifying additional workers to fill positions associated with investments and to sustain positive growth rates. However, a second challenge looms.

As projected by the OECD, new technologies are anticipated to transform over 30% of existing job positions and fully eliminate at least 15% well before 2050. This holds significant implications for the involvement of current employees in the labor market. Notably, these estimates primarily pertain to more advanced economies that leverage technological advancements more efficiently and rapidly. Nevertheless, this situation will not leave Greece unaffected. On one hand, automation and tech-related activities are progressively dominating the Greek economy. On the other hand,...