Employment and unemployment rates nearly back at pre-crisis levels
Article published in Voice of the Workers Weekly
The latest review of Employment and Social Developments in Europe (ESDE) shows that employment rates are back on track to recovery from pre-COVID levels. The Employment and Social Developments Quarterly Review provides an in-depth description of recent labour market and social developments.
The report shows that the EU is recovering from the economic and social impact of the coronavirus pandemic, making economies and societies more sustainable, resilient and better prepared for the challenges and opportunities of the green and digital transitions.
Following a drop in the first quarter, total employment increased by 0.7% in the second quarter of 2021, in both the EU and the euro area.
Long-term unemployment stood at 2.8% in the EU and 3.2% in the euro area, spanning among Member States from 0.7% in Malta and Czech Republic to 10% in Greece.
The report also shows that companies are experiencing a significant increase in job shortages, with some firms struggling to find the right profiles to expand their workforce.
Expectations are particularly optimistic for the service and industry sectors, while signs of mild optimism are also visible for the retail sector. However, recovery in employment is not expected to be reached in the next two years.