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Greece has mass production of “unemployed labor-craft with higher education”

Greeks continue to ‘invest’ in education and ‘produce’ qualified jobless despite the high unemployment among the youth and the highly skilled labor craft. According to OECD’s latest report “Education at Glance 2015” Greece has the highest rate in higher education.

The Organization for Economic Cooperation and Development found in its study that compared to 2000 the rates actually increased and thus despite the economic crisis.

2000: 18% of the workforce (15-64 years) had a university degree. In the age group 25-34 the rate was 24%

2014: 28% of the workforce of the same age group had a university degree. In the age group 25-34 the rate was 39% Respectively: 26% in 2005, 31% in 2010.

However, finding a work is becoming increasingly difficult. Greece counts has the highest rate in unemployed graduates of secondary or post-secondary education.

In 2014, the unemployment rate among 25-64-year-olds with upper secondary or post-secondary non-tertiary education was 28%, when the average OECD rate was 8%.

Similarly, the unemployment rate of the same age group with tertiary education was 19%, when the OECD average was 5%.

In both groups, Greece has the highest rate among the OECD countries.

The OECD found out that the main factor for these rates is …the economic crisis. In 2000, general unemployment was 11.2%, in 2005 it was 9.5%, while it increased to 12.5% in 2012 and skyrocketed to 27.6% in 2014 (36% among the 25-34).

Among the EU countries, Greece is followed by Spain, Italy and Portugal.

Disappointing high is the proportion of NEET [!], that is the young people aged 20-24 years who neither study nor work. NEET is the acronym to describe people who are Not in Education, Employment, or Training).

The rate of NEET in Greece is 30%. Only Spain and Turkey have higher rates of NEET.

Education at Glance 2015 with countries list here, Greece‘s section here.

PS I ‘predict’ that the next OECD toolkit for “structural reforms” will propose that Greeks cut the crap with post-secondary and tertiary education arguing that one does not need to waste public money in order to keep warm school and university benches for extra 3 or 7 or 10 years, since the only jobs available will be in cafeterias, souvlakeries and call centers. What do you mean, “No”?

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