Deteriorating Jobs Outlook Across the EU

Across the European Union, the jobs outlook is steadily worsening. According to a Gallup report, over 90% of citizens in Greece (98%), Italy (95%), Spain (94%), and Ireland (92%) think that it is a "bad time" to find a job in their area. The majority of citizens in 25 of the 27 countries in the European Union report a pessimistic job outlook. This finding coincides with Eurostat's findings that the EU is currently experiencing some of the highest unemployment levels ever recorded in Europe. Countries with the most staggering unemployment rates include Spain (23.8%), Greece (25.1%), Latvia (15.9%), Portugal (15.7%), Ireland (15.1%), and Slovakia (13.9%). The jobs outlook across the EU has worsened since 2011, and in recent months (August 2012-September 2012), unemployment levels have continued to decrease. Since 2011, the jobs outlook has gotten significantly worse in Finland, the Netherlands, Luxembourg, Belgium, Sweden, France, Austria, Denmark, Hungary, the Czech Republic, and the United Kingdom.






It is important to note that since 2011, there have been improvements in the jobs outlook in Latvia and Estonia. Additionally, the majority of Germans (46% compared to 43%) and approximately 1/3 of Swedes (32%) and Austrians (35%) feel that it is a "good time" to find a job in their country. Comparatively, 25% of Americans feel it is a "good time" to find jobs in their area. Also, the estimated percentage of the population that is employed by a full time employer has remained stable in most EU countries in 2012.




However, the countries that have severely pessimistic jobs outlooks also have the lowest percentage of full-time employees. Less than 1 in 3 adults are employed full time in Greece, Romania, Italy, Belgium, Spain, and Ireland. Because of the decreasing percentage of the population that is employed full time, the tax-base is shrinking. Therefore, countries across the EU are not just facing high unemployment levels and dismal job outlooks; they are facing long-term economic instability.

SSDAN Office

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