24 May, 2016 | (01 hr)
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The latest Eurostat figures show that unemployment is still double-digits in the Eurozone: 10.3 percent in February 2016. Although as many as 16.6 million people in the Euro Area are looking for a job and cannot find one, it is labor shortages that companies and policy makers need to worry about. Labor markets are rapidly tightening in some European countries as a result of timid growth and, most importantly, population aging. In Germany, Hungary, the UK, Poland, and Czech Republic, unemployment is reaching its natural rate, meaning these countries are close to full employment.
- What does this mean for the European business sector?
- What are the strategies to cope with it?
- Where can one find the solution: in technological change or immigration?
Gad Levanon, Ph.D.
Gad Levanon serves as chief economist, North America at The Conference Board. He oversees the labor market program, the U.S forecasting program, and the Help Wanted OnLine© program.
Levanon create...Full Bio
Brian Schaitkin is a Senior Economist in U.S. Economic Outlook & Labor Markets at The Conference Board. He is part of a team working to expand The Conference Board’s previous work on labor shortages. In addition, he will be leading efforts to expand coverage of regional economies in the...Full Bio
Ilaria Maselli is a senior economist for Europe at The Conference Board. Maselli has also been affiliated with the Brussels-based think tank the Centre for European Policy Studies (CEPS) since 2007; her latest position is research fellow.