Link to the University of Pittsburgh
Link to the University Library SystemContact us link
AEI Banner

The Great Recession’s Biggest Losers: The euro area’s jobless. CEPS Policy Insights No 2017-29/July 2017

Kilhoffer, Zachary and Beblavý, Miroslav (2017) The Great Recession’s Biggest Losers: The euro area’s jobless. CEPS Policy Insights No 2017-29/July 2017. [Policy Paper]

[img] PDF - Published Version
Download (909Kb)

    Abstract

    The euro area continues to recover from the Great Recession, with several recent publications offering optimistic assessments of the euro area’s economic performance. The European Commission’s “Employment and Social Developments in Europe 2017” report, for example, praises moderate economic growth and “solid net job creation” in a “job-rich recovery”. While the European Commission acknowledged ongoing challenges such as youth unemployment, it must also be recognised that the euro area’s recovery has been piecemeal. Economic growth is encouraging, but it obscures the unemployed millions who have not tasted the fruits of the recovery. The euro area’s labour market, while posting gains, remains in a worse state than before the Great Recession. Nearly half of the unemployed in the euro area have been jobless for over a year. In contrast with the United States, Japan and other regions hit hard by the crisis, the euro area’s labour market exemplifies the most enduring damage of the Great Recession. European lawmakers need to soberly acknowledge the job market’s failures and take targeted action, addressing the regions and demographics for whom the recovery is not working.

    Export/Citation:EndNote | BibTeX | Dublin Core | ASCII (Chicago style) | HTML Citation | OpenURL
    Social Networking:
    Item Type: Policy Paper
    Subjects for non-EU documents: EU policies and themes > Policies & related activities > employment/labour market
    EU policies and themes > Policies & related activities > economic and financial affairs > financial crisis 2008-on/reforms/economic governance
    Subjects for EU documents: UNSPECIFIED
    EU Series and Periodicals: UNSPECIFIED
    EU Annual Reports: UNSPECIFIED
    Series: Series > Centre for European Policy Studies (Brussels) > CEPS Policy Insights
    Depositing User: Phil Wilkin
    Official EU Document: No
    Language: English
    Date Deposited: 28 Jul 2017 13:45
    Number of Pages: 8
    Last Modified: 28 Jul 2017 13:45
    URI: http://aei.pitt.edu/id/eprint/88454

    Actions (login required)

    View Item

    Document Downloads