Friday, 2 September 2011

Felix Salmon on Emigration from Portugal

International labor mobility datapoint of the day

From a global perspective, this is good news. Developing countries like Angola and Brazil get to leverage western European education, while underemployed Portuguese find good jobs abroad. It’s an example of the cross-border labor market actually working.

From a European perspective, on the other hand, there’s a lot to worry about here — the PIGS aren’t going to recover if they lose the highly productive workers they spent so much to educate. But they can hardly wall those workers in and prevent them from moving to greener pastures. The only solution is domestic job creation. And that’s hard to do when you’re on an austerity regime.



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