Greece Brain Drain: 33 Percent of Unemployed Looking for Jobs Abroad vs 11 Percent in 2015

The  Unemployment Rate in Greece is down to 21.7% in April from a record 27.9% in July of 2013 and a record low of 7.3% in May of 2008.

Despite the falling rate, the percentage of those unemployed seeking jobs abroad has risen from 11% in 2015 to 33% this year.

The message seems to be “get me the hell out of here”.

The Greek Reporter notes Brain Drain Gathers Pace as One in Three Greeks Looks for a Job Abroad.

According to the annual survey by the firm Adecco titled “Employability in Greece,” the brain drain phenomenon has been increasing over the last three years.

In 2015 only about 11% of unemployed respondents said that they were actively looking for a job abroad. This figure increased to 28% in 2016 and reached 33% this year.

The responses show that the unemployed have different reasons to seek work abroad. Whereas in 2005, the main reason was the prospect of a better wage, in 2016 and 2017 the main reason given were better career opportunities.

The study conducted for the third year running, in collaboration with polling company LMG, was based on a sample of 903 people from the age of 18 to 67.

According to other findings, 37% of respondents say that they have been out of the labor market for at least 12 months.

Unemployment vs Wanting a Job

More than 1 out of 4 (28%) are out of the labor market, a higher rate compared with the previous two years.

In Greece, as in the US and elsewhere, there is a difference between wanting a job but not having one, and being officially unemployed.

Mike “Mish” Shedlock