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Title page 1

Contents 6

Foreword 4

Acknowledgements 5

Acronyms and abbreviations 9

Executive summary 11

1. The transition from education to work 13

1.1. Economic context in Greece 14

1.2. Labour market outcomes of young people 14

1.3. The sectoral composition of youth employment 17

1.4. Skills mismatches 21

1.5. Work experience 23

1.6. Vocational education and training 25

1.7. Career guidance 28

1.8. Conclusion 30

References 31

Notes 34

2. Entrepreneurship among young people 35

2.1. Economic context 36

2.2. Scale and characteristics of youth entrepreneurship 36

2.3. Barriers to business creation 38

2.4. Public support for young entrepreneurs 40

2.4.1. Strengthening the business environment 40

2.4.2. Building entrepreneurship skills 40

2.4.3. Improving access to finance 41

2.4.4. The role of the NGO sector 41

2.5. Conclusion 43

References 43

3. Support for unemployed and inactive young people 46

3.1. The NEET challenge 47

3.2. Active labour market policies for young people 50

3.2.1. Set-up of active labour market policies 50

3.2.2. Youth Guarantee 52

3.2.3. Training programmes 53

3.2.4. Wage subsidies 54

3.3. Income support for young jobseekers 55

3.3.1. Types of income replacement benefits 55

3.3.2. Benefit generosity 57

3.3.3. Incentives to work 60

3.4. Conclusion 63

References 64

Notes 65

4. Family policy 67

4.1. Demographic context 68

4.2. Fertility 68

4.3. Family policies 72

4.3.1. Spending on family policies 72

4.3.2. Parental leave entitlements 72

4.3.3. Early Childhood Education and Care 73

4.3.4. Out-of-school programmes 76

4.3.5. Income support for working families 78

4.4. Conclusion 82

References 83

Notes 85

5. Housing policies 86

5.1. Access to housing as a key pathway to financial independence for young people 87

5.2. Challenges facing young Greeks in the housing market 87

5.2.1. Difficulties to transition out of the parental home and purchase a first home 88

5.2.2. High spending on housing costs, particularly among renters 89

5.2.3. Substandard housing and weak tenant protections 90

5.2.4. Limited affordable options, given the shortage of social rental housing and student dormitories 90

5.3. Policies and institutional reforms to help young people access good quality affordable housing 90

5.3.1. Support for home ownership 94

5.3.2. Measures to expand the supply of affordable and social housing 94

5.3.3. Support for tenants in the private rental sector 97

5.3.4. Housing support for university students 98

5.3.5. Institutional reforms in the responsibility for housing policies 98

5.4. Conclusions 99

References 99

Notes 101

Annex A. The OECD Tax-Benefit Model 102

References 103

Tables 8

Table 3.1. Wage subsidy programmes for young people 54

Table 5.1. Overview of housing policies and programmes available to young people in Greece 91

Figures 7

Figure 1.1. Youth employment outcomes have recovered markedly over the past decade 15

Figure 1.2. Greece has the second lowest youth employment rate in the OECD 15

Figure 1.3. Greece has the third highest youth unemployment rate in the OECD 16

Figure 1.4. Youth unemployment in Greece is high irrespective of educational attainment 16

Figure 1.5. Young workers in Greece earn lower wages than their peers in OECD countries 18

Figure 1.6. Involuntary temporary employment and part-time employment among young workers are more prevalent in Greece than in most... 19

Figure 1.7. The growth of the accommodation and food services sector has been particularly acute in Greece 20

Figure 1.8. Youth employment in Greece exhibits a significant seasonal pattern 21

Figure 1.9. Skill mismatches are considerable in Greece 22

Figure 1.10. Very few young people in Greece combine education and employment 24

Figure 1.11. One out of two 15-year-olds enrolled in secondary education in Greece have taken part in an internship 24

Figure 1.12. The poor perception and weak labour market outcomes of VET programmes result in low enrolment rates 26

Figure 1.13. Less than half of 15-year-olds in Greece are exposed to career guidance in school 29

Figure 2.1. Greece has high rates of youth self-employment but only a small share employ others 37

Figure 2.2. Few young Greek entrepreneurs have growth aspirations 38

Figure 2.3. Only one-third of young Greek entrepreneurs report introducing new products and services 39

Figure 2.4. Undercapitalisation is a major barrier for young Greek entrepreneurs 40

Figure 3.1. Despite a strong reduction over the past decade, the share of young people in Greece who are not in employment,... 48

Figure 3.2. Greece has the highest share of unemployed NEETs in the OECD 49

Figure 3.3. Medium or highly educated young people in Greece are more likely to be NEETs than those with low levels of education 49

Figure 3.4. Greece spends less on active labour market policies than the average OECD country 51

Figure 3.5. Young people in Greece have a higher poverty rate than their OECD peers and the total Greek population 56

Figure 3.6. The Greek tax-benefit system offers adequate support to young single jobseekers transitioning from a minimum-wage job into... 58

Figure 3.7. The minimum contribution period for unemployment insurance in Greece is amongst the lowest in the OECD 59

Figure 3.8. In Greece, young single jobseekers relying on GMI only live below the poverty line 60

Figure 3.9. Financial incentives for youth entering job from unemployment benefits are low 62

Figure 4.1. Greece's fertility rate has decreased dramatically over time and is now lower than the OECD average 68

Figure 4.2. Greece's average age of childbearing has risen significantly, surpassing the OECD average 69

Figure 4.3. The shift in fertility patterns illustrates a clear transition toward later parenthood 70

Figure 4.4. Greece's traditional family values are reflected in its low rates of births outside marriage 70

Figure 4.5. Low maternal employment in Greece, especially among less educated women, reflects ongoing work-family challenges 71

Figure 4.6. Greece's public spending on family benefits remains well below the EU and OECD averages, despite its strong cultural attachment to the family 72

Figure 4.7. Greece provides relatively generous maternity leave and shareable leave 73

Figure 4.8. Greece's early childhood education and care enrolment rate is lower than the OECD average but increases with age 75

Figure 4.9. Despite high gross childcare fees in Greece, generous government support keeps net costs manageable for families 77

Figure 4.10. Greece's out-of-school (OSH) enrolment rates in centre-based care are higher than the OECD averages 78

Figure 4.11. Income support for families in Greece is lower than in other European countries 81

Figure 5.1. Around 70% of young people aged 18-24 in Greece are concerned about being able to find/maintain adequate housing 88

Figure 5.2. More than 7 in 10 young Greeks live with their parents 89

Boxes 27

Box 1.1. Overview of the Greek system of Vocational Education and Training 27

Box 1.2. The 21st Century Skills Labs 29

Box 2.1. Young Entrepreneurs Succeed! 42

Box 3.1. Income replacement benefits for jobseekers 56

Box 4.1. Income support schemes for families in Greece 79

Box 5.1. Pilot rental intermediation schemes in Greece 95

Box 5.2. Targeted efforts to address the impacts of short-term rentals on the housing market in tourist-heavy neighbourhoods 98