European Employment Trends

We keep reading about the impact of short-term unemployment throughout Europe and it will take several years for markets to adjust, but what about the long term?

Employment Trends

Demographic, economic, technological, educational and social factors are combining to rapidly transform the employment landscape of OECD countries. The precise magnitude and speed of change is difficult to estimate, but the broad general directions and central issues have become much clearer over the past decade. These trends can be summarised as follows:

Growth of employment opportunities exceeds the rate of population growth and will continue to do so in future.

This trend has been accentuated until recently by the lowering of the retirement age, which has accelerated the loss of experienced workers from the workforce.

It has been further accentuated by falling birth rates, resulting in the influx of fewer young workers to replace those who retire.

The proportion of the population in retirement has also risen to peak levels and will continue to rise unless offset by massive immigration.

At the same time, educational and skill requirements have increased faster than the capabilities of the workforce.

All these factors combine to create an increasing shortage of skilled workers to meet the needs of European countries.


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Why is
European Labour in
High Demand?

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