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
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.