EU Employment and Social Situation Quarterly Review – March 2013

EU Employment and Social Situation Quarterly Review – March 2013

According to the European Commission’s latest Employment and Social Situation Quarterly Review, the employment and social situation in the EU remained critical in the fourth quarter of 2012 with employment receding overall and unemployment rising further, while households’ financial situation remained serious.

The adverse effects of public budget cuts and tax increases on employment and living standards are increasingly apparent in certain Member States. The Review also notes that net immigration from outside the EU has slowed down and that the crisis has adversely affected fertility.

According to it, youth unemployment and inactivity is at highest ever levels. Not only has youth unemployment reached a new peak across the EU (23.6 % of active young people were jobless in January 2013), but also periods of unemployment among the young have tended to become longer. 7.1 % of active young people had been jobless for more than a year in the third quarter of 2012, against 6.3% a year earlier. This trend poses a serious risk in terms of young people becoming detached from the labour market and from society as a whole. The rising number of young people under the age of 25 who are neither in employment nor in education and training (NEET), now accounting for roughly 8 million young people, is also a major cause for concern.

 

Read more: http://ec.europa.eu/social/main.jsp?langId=en&catId=89&newsId=1852&furtherNews=yes