Arab Today, arab today un figures record 6 million jobs lost in eu since 2008
Last Updated : GMT 03:40:40
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.

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 Prepares to present her new collection

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Optimism on the front line

GMT 07:24 2017 Monday ,20 February

Optimism on the front line
Arab Today, arab today Murder of 2 reporters in Dominican Republic

GMT 22:45 2017 Thursday ,16 February

Murder of 2 reporters in Dominican Republic

GMT 10:06 2017 Friday ,17 February

South Korea's Hanjin Shipping declared bankrupt

GMT 09:26 2017 Friday ,17 February

Samsung's history tainted by run-ins with the law

GMT 09:20 2017 Friday ,17 February

Samsung heir arrested in corruption probe

GMT 10:26 2017 Thursday ,16 February

Dollar, equities stutter in Asia after Trump rally

GMT 08:45 2017 Thursday ,16 February

Hanjin saga reveals S.Korea corporate governance flaws

GMT 09:40 2017 Wednesday ,15 February

Heineken profits drained in 2016 by currency turmoil

GMT 09:10 2017 Tuesday ,14 February

Sharjah Chamber Eyes Strong Economic Ties with Belgium
View News in Arabic - Business: أخبار الأعمال
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Kidogo provides childcare for underserved

GMT 20:24 2017 Wednesday ,15 February

Kidogo provides childcare for underserved
Arab Today, arab today Tragic fluctuations of Bakhtiari's life revealed

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Egypt to hold first session of Arab film festival

GMT 21:11 2017 Saturday ,18 February

Egypt to hold first session of Arab film festival
Arab Today, arab today Teach monkeys to recognize themselves in mirror

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 07:30 2017 Saturday ,18 February

Actress Nadeen Al Rassi views art as her entity

GMT 06:40 2017 Friday ,10 February

MP calls for removing text from Islamic story

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women

GMT 10:26 2017 Tuesday ,14 February

Emergency UN meeting in Harare

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 21:49 2017 Thursday ,16 February

Scientists develop new therapy

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 13:16 2017 Tuesday ,14 February

First fashion model with Down syndrome
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