On September 15, CELSI Scientific Director Martin Kahanec delivered the opening keynote at the 93rd East Jour Fixe, a flagship policy forum of the Oesterreichische Nationalbank (OeNB) organized in cooperation with the Vienna Institute for International Economic Studies (wiiw).

This year’s event focused on a pressing question: How can labour markets in Central, Eastern and Southeastern Europe (CESEE) remain resilient in the face of labour shortages, skill mismatches, and weak productivity — while still offering fair opportunities for workers?

In his keynote speech, Kahanec examined the crucial role of migration in the efficiency and resilience of European labour markets. He argued that migration enhances labour market allocative efficiency, helps to address skill gaps, and functions as a shock absorber in times of economic turbulence.

The programme featured a rich set of perspectives:

• Martin Kocher, Governor of OeNB, underlined the resilience of CESEE labour markets despite widespread labour shortages.
• Robert Stehrer and Sandra Leitner (wiiw) explored the challenges of skill mismatches and future labour demand.
• Anna Raggl (OeNB) highlighted the geopolitical factors shaping immigration patterns.
• Małgorzata Walerych (Narodowy Bank Polski) examined the impact of the 2022 refugee wave from Ukraine on Poland’s labour market.
• In the final panel, Julia Wörz (OeNB), Mihail Arandarenko (University of Belgrade), and Bálint Menyhért (IZA World of Labor) discussed current risks, from labour market segmentation to productivity gaps, and the strategies needed to overcome them.

Kahanec’s contribution set the stage for an engaging discussion, emphasizing that well-designed migration and skills policies are not only about managing risks but also about unlocking the full potential of CESEE labour markets.

We are proud that CELSI continues to bring evidence-based insights into key policy debates shaping the future of work in Europe.

#EJF2025 #OeNB #CELSI #LabourMarkets #Migration #CESEE