Employment, Training and Labor Market in EU Essay.

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Critical review on employment, training, and labor markets in the EU.

 

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In the recent years, the European Union labor market experienced tremendous interruptions in the sluggish recovery in employment. Unemployment rates in the EU increased in the mid 2011 due to the process of job shredding and a reduction in the job finding rates. The trends in the European labor market have exhibited an increased in the demand for skills. This has necessitated Vocational Education and Training. The new agenda for skills and jobs underlines the importance of analyzing people’s skills and matching them to the labor market needs. This has increasingly pointed to VET as a mitigation strategy. However, the EU may be the only world region faced by an unwavering unemployment.

 

Unemployment state in the EU.

The overall unemployment rate has escalated to double digits. According to the European Commission (2012), the overall unemployment rate may be estimated 10.5% with that of the euro areas reaching 11%. This would be the highest unemployment rate since the commencement of the European Monetary Union (EMU). From the 2008 job crisis, the total number of jobs lost in the euro area has reached 5 million.  The scattering unemployment rates in the EU have attained unexpected levels. Since 2008, the unemployment trend started catching root. The unemployment situation may be attributed to several factors. One of the most plausible reasons includes external imbalances and sovereign crisis; this process has reflected parallel tendencies among a couple of EU surplus countries to record unemployment growth. Germany has accounted for quit a significant increase in the level of unemployment in the EU. However, the Spanish unemployment had a catastrophic impact on the overall EU unemployment rate, accounting for over 40% growth in the EU since 2008.

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