{"id":25985,"date":"2023-09-27T12:53:01","date_gmt":"2023-09-27T12:53:01","guid":{"rendered":"https:\/\/mormonmediareviews.com\/?p=25985"},"modified":"2023-09-27T12:53:01","modified_gmt":"2023-09-27T12:53:01","slug":"eu-faces-fresh-job-exodus-that-goes-beyond-brexit-as-bloc-scrambles-to-hire","status":"publish","type":"post","link":"https:\/\/mormonmediareviews.com\/world-news\/eu-faces-fresh-job-exodus-that-goes-beyond-brexit-as-bloc-scrambles-to-hire\/","title":{"rendered":"EU faces fresh job exodus that goes beyond Brexit as bloc scrambles to hire"},"content":{"rendered":"

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Europe’s labour market is displaying signs of recovery from the impacts of the COVID-19 pandemic, but it continues to face challenges in matching job supply with demand, according to recent statistics and analysis by Thomas Paddock, a consumer trends analyst and founder of Learn Retail Arbitrage.<\/p>\n

The latest data reveals a slight decrease in job vacancies, along with a marginal increase in employment during the second quarter of the year.<\/p>\n

The job vacancy rate dropped from 2.8 per cent in the first quarter to 2.7 per cent, while the employment rate for individuals aged 20-64 rose by 0.1 per centage points, reaching 75.4 per cent.<\/p>\n

However, these positive trends are overshadowed by the overarching issue of an ongoing increase in the long-term job vacancy rate across the European Union.<\/p>\n

This trend has persisted since 2020 when the pandemic led to widespread furloughs and layoffs. Despite the improved employment rate in the second quarter, a European Commission report had earlier highlighted labour shortages and skill gaps.<\/p>\n

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These shortages are being reflected in these statistics and they are likely to worsen as the working-age population is projected to decline from 265 million in 2022 to 258 million by 2030.<\/p>\n

Eurostat data reveals significant disparities among EU member states. The Netherlands has the highest job vacancy rate at 4.7 per cent, highlighting a substantial need for skilled workers. In contrast, Bulgaria and Romania recorded a job vacancy rate of only 0.8 per cent during the same quarter.<\/p>\n

Among the industries experiencing high demand for workers in the EU are software development, sales, advertising, marketing, manufacturing, engineering, and research and development.<\/p>\n

When compared to job vacancy rates in the second quarter of 2021 and 2022, this year’s figure falls in between the two, indicating a fluctuating job market. The EU’s vacancy rate stood at 2.2 per cent in the second quarter of 2021, rose to 3 per cent in 2022, and has now started to decline.<\/p>\n

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Speaking to Express.co.uk, a consumer trends analyst, shopping expert, and founder of Learn Retail Arbitrage\u00a0Thomas Paddock said: “The ongoing dilemma of unfilled job openings across different industries in the EU – especially in freight trucking in the Netherlands and Belgium – intersects with several overlapping trends.<\/p>\n

“A big factor is the post-Brexit shakeup of the labour market. In the UK, labour shortages often get blamed on EU workers leaving, especially in sectors that relied on them.<\/p>\n

“But the sheer number of vacancies in EU countries shows this goes beyond Brexit. The lack of freight drivers in Belgium and the Netherlands points to an EU-wide challenge in matching job seekers to open positions. It also reflects the growing demand for niche skill sets like logistics, marketing, engineering and R&D.”<\/p>\n

According to Eurostat, more than 75 per cent of EU companies struggle to find professionals with the necessary skills, which hampers economic growth.<\/p>\n

To combat these shortages, some EU countries have taken proactive steps. The German government, for instance, passed a new immigration law in August aimed at attracting skilled non-EU workers to address labour shortages within the country.<\/p>\n

Denmark has also approved a three-year visa for international students to work following their graduation, with the intention of filling vacant roles.<\/p>\n

However, there remains a significant proportion of the labour force in the EU that is either unemployed, underemployed, seeking work but not immediately available, or available but not seeking work.<\/p>\n

This has led to more than one in eight people in the EU being exposed to labour market slack, as defined by the International labour Organisation.<\/p>\n

Mr Paddock stressed the need for tailored solutions across the EU, adding: “Every member state may need distinct strategies to bridge hiring gaps, address skills mismatches, and get people working. Ideas like vocational programmes, re-skilling initiatives, or making it easier for EU residents to work in different countries could be key steps.”<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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