Migranti, Nagel (Mediobanca): "Pesano su contabilità della crescita"

Migrants, Nagel (Mediobanca): "They weigh on growth accounting" "Integration pays, but significant investments are needed" Economy (Milan). "Growth accounting indicates that the employment rate, the share of the active population, and labor productivity are factors that drive economic well-being. Migrants can impact all of these variables," said Alberto Nagel, CEO of Mediobanca, during the event "Migrations and Inclusion - The Reception of Unaccompanied Foreign Minors" in Milan. "While it is true that structured integration policies pay off in economic terms, it is also true that they must first be paid for: they require significant allocations of public resources and long waiting periods before they can bear fruit," he added. "The Italian experience appears to be improvable. The figures are clear: only 14% of our migrants are employed in the three most skilled occupations, compared to the EU average of 33%, 51% in Sweden, 47% in Norway, and 43% in Denmark," he concluded. (Riccardo Sciannimanico/alanews) Automatically generated transcript The type of migrant presents specific critical issues. It is a different capacity to contribute to the well-being of the host country. Growth accounting indicates which factors favor the development of economic well-being in the long term. Among them, the employment rate, the share of the active population (the one participating in the labor market), and labor productivity play an important role. Migrants are able to impact all these variables. It was precisely the low growth of the Italian economy over the past twenty years that has led to the debate surrounding the economic value of migration. In fact, if Europe were to adopt a combination of the integration policies of Sweden and Canada, it would be able to achieve an improvement in its dependency ratios by 2060, which express the severity of the demographic imbalance of nearly 20%. If, then, the adoption in Italy of a mix of virtuous policies inspired by the Swedish-Canadian model would allow the Italian deficit to be reduced by more than 40% by 2060, overcoming all the headwinds to demographics. Severo, who believes that integration policies Structured integrations pay off in economic terms. It is also true that if they have to be paid for first. Yes, in fact, they require huge allocations of public resources and long waiting periods before they can bear fruit. It takes approximately 10 years before public taste and the long public cost is repaid in terms of GDP growth. What restricts the feasibility of such measures are the countries that have large state budgets and a sufficiently patient political class and rectorate. In this context, the Italian experience appears to be improvable. Our country is in fact characterized by contradictory aspects. On the one hand, it has one of the lowest rates of tertiary education among migrants, even second-generation ones. On the other, migrants in Italy have one of the highest probabilities of finding employment. Migrants in Italy, even when they have specific training, end up accepting dequalifying jobs. The figures are clear: only 14% of our emigrants are employed. More qualifying concerns include managers, professionals, and technicians, compared to the 33% average in the European Union, 51% in Sweden, 47%, and 43% in Denmark. All factors that do not seem to be correct. act for Italy or where the most recent estimates indicate that a 1% increase in the share of migrants leads to a 5% fall in labor productivity due to low levels of education and the fact that their presence does not trigger virtuous paths of upskilling of natives