Arab Today, arab today un figures record 6 million jobs lost in eu since 2008
Last Updated : GMT 14:45:02
Arab Today, arab today
Arab Today, arab today

European unemployment reaches 57.6%

UN figures record 6 million jobs lost in EU since 2008

Arab Today, arab today

Arab Today, arab today UN figures record 6 million jobs lost in EU since 2008

EU workforces lost 1 million jobs in the past 6 months alone
Geneva - Arabstoday

EU workforces lost 1 million jobs in the past 6 months alone European Union economies have shed almost six million jobs since the global economic crisis struck in 2008, the International Labour Organisation said Monday. In a report on the European labour market, the UN agency said the employment rate across the 27-nation EU stood at 57.6 percent in 2012, down 1.6 percentage points on 2008.
"This means that there is still a deficit of 5.9 million jobs to restore employment rates to their pre-crisis levels," the ILO said.
A million jobs have been lost in the past six months alone, it noted.
It underlined that despite some signs of labour market recovery that started to materialise in 2010, only five EU members -- Austria, Germany, Hungary, Luxembourg and Malta -- have employment rates above pre-crisis levels.
Countries such as Cyprus, Greece, Portugal and Spain have seen a steady decline in employment rates of more than three percentage points.
As of February, official unemployment stood at 26.3 million in Europe, or 10.2 million more than in 2008, the ILO said.
"Importantly, while the deterioration of employment paused during 2010-2011, it has gained momentum over the past year," it noted.
Average unemployment in the EU has reached 10.9 percent -- with double digit rates in some of the most crisis-afflicted countries -- and a record of 12 percent in the 17-nation eurozone.
Young and unskilled workers have been the hardest hit, with youth unemployment across the EU at 23.5 percent and stark rates of 58 percent in Greece and 55 percent in Spain.
Companies have increasingly turned to part-time and temporary contracts meanwhile, underscoring the bleak outlook, the ILO said.
"The above trends suggest that is necessary to move to a job-friendly strategy. Much of the emphasis so far has been on reducing budget deficits and restoring external competitiveness through 'internal devaluations,’" it said.
"While fiscal and competitiveness goals are important, it is crucial not to tackle them through ill-conceived austerity measures and structural reforms that do not address the root causes of the crisis," it added.
The ILO said that more measures were needed to resolve systemic problems in the financial sector and to unlock credit for small firms.
"More and more countries face downward pressures on wages and employment, thereby affecting domestic consumption and investment and eroding intra-EU trade," it warned.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today un figures record 6 million jobs lost in eu since 2008 Arab Today, arab today un figures record 6 million jobs lost in eu since 2008

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today un figures record 6 million jobs lost in eu since 2008 Arab Today, arab today un figures record 6 million jobs lost in eu since 2008

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today EasyJet, Lufthansa among seven to bid

GMT 06:49 2017 Tuesday ,17 October

EasyJet, Lufthansa among seven to bid
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Israeli court convicts Palestinians of 2016

GMT 04:39 2017 Tuesday ,17 October

Israeli court convicts Palestinians of 2016
Arab Today, arab today Iran's Facebook shuts down

GMT 23:50 2017 Monday ,16 October

Iran's Facebook shuts down
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Sidem reveals plan to improve education

GMT 15:52 2017 Friday ,06 October

Sidem reveals plan to improve education
Arab Today, arab today British actress becomes fifth woman

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman
Arab Today, arab today Three killed, 360,000 without power

GMT 05:11 2017 Tuesday ,17 October

Three killed, 360,000 without power
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mercedes says recalls 400,000 UK cars

GMT 06:56 2017 Tuesday ,17 October

Mercedes says recalls 400,000 UK cars
Arab Today, arab today Britain's Vauxhall to cut 400 jobs

GMT 10:53 2017 Sunday ,15 October

Britain's Vauxhall to cut 400 jobs
Arab Today, arab today Anoshka happy for reactions to her talk show

GMT 12:33 2017 Friday ,13 October

Anoshka happy for reactions to her talk show
Arab Today, arab today India to close colonial-era military farms

GMT 18:49 2017 Monday ,16 October

India to close colonial-era military farms

GMT 10:55 2017 Thursday ,12 October

Safaa Sultan happy for “Love School”

GMT 10:37 2017 Thursday ,12 October

Cara Delevingne accuses Weinstein

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 12:02 2017 Saturday ,14 October

Conservation cutbacks put Brazil's

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 12:25 2017 Saturday ,14 October

Squeeze on UK health gives advanced

GMT 07:02 2017 Sunday ,15 October

German minister sparks uproar

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 03:59 2017 Sunday ,15 October

US mobile carriers Sprint, T-Mobile to merge

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday