FACTBOX-Europeans fear for their jobs

Fri Oct 24, 2008 9:12am BST
 
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(Reuters) - European governments are coming under pressure to prop up the job market, as they have the financial sector, to prevent a dramatic rise in unemployment.

According to the latest data from Eurostat, unemployment in the 15-country eurozone stood at 7.5 percent in August, up from 7.4 in July, while the overall figure for the 27 European Union member states was 6.9 percent, unchanged from July.

Economists expect the fallout from the financial crisis to lead to higher unemployment across the continent.

The following are some of the announcements governments have made in response to pressures on the European labour markets.

GERMANY - UNEMPLOYMENT RATE: 7.6 PCT

* Government looking at measures to stimulate investment in specific sectors such as auto and construction industries, but so far no concrete steps announced.

* Chancellor Angela Merkel says government must lift economic growth rates through incentives, but opposes sweeping stimulus package.

* Frank-Walter Steinmeier, highest-ranking minister and Merkel's challenger in 2009 election, calls for "protective shield" for jobs but rejects use of income tax cuts.

BRITAIN - UNEMPLOYMENT RATE: 5.7 PCT  Continued...

 

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