Indicative FSP

Forecasting requirements in Greek industry sector

The present paper deals with the subject of forecasting the future labor demand for the different sectors of the Greek economy. After using different econometric techniques, examining multiple factors and making certain rational assumptions, we present an efficient and flexible forecasting model as well as some examples of its applications. This model was constructed as a tool to be used by persons seeking for a job or persons that wish to receive an occupational orientation that will allow them to enter those sectors of the economy with the greatest need for labor force. As a consequence, these are the categories of people that should be mainly interested in our model. In more details, our model is basically an Indirect Forecasting Method based on the equation of the future labor force to the sum of the change in the active labor force (between two consecutive time periods) and the wastage of labor force W (with the term wastage we mean the departures of people from the active labor force for any reason). Finally, at the last section of the paper we present an application of the suggested model. In other words, using the model that we have suggested as a forecasting tool, we try to estimate the number of recruitments for the following time period in each of the examined sectors of the Greek economy.

Current Distinctions & Awards