European Union officials are putting the final touches to a detailed economic growth plan they hope to unveil next week.
The move comes as investors, spooked by the prospect of a deepening recession in the eurozone’s south, have pushed Spanish borrowing costs to their highest levels for four months.
A draft of the 28-page plan by the European Commission, the EU’s executive branch, calls on national governments to implement a series of job-creating policies, including cutting labour-related taxes, and shifting the burden to property, energy and emissions levies.
It also calls for countries to lift remaining restrictions on worker movement within the EU, which the plan argues has prevented the skilled jobless from moving to countries with labour shortages.
The draft’s call for all travel restrictions to be lifted on Bulgarian and Romanian workers could cause controversy in France. Such restrictions remain in place there, and migration issues have become central in President Nicolas Sarkozy’s re-election campaign…
Read More @ Brussels set to unveil EU growth plan – FT.com.
Unemployment of Europe’s young people soars by 50%
Unemployment among Europe’s young people has soared by 50% since the financial crisis of 2008. It is rising faster than overall jobless rates, and almost half of young people in work across the EU do not have permanent jobs, according to the European commission.
Three policy papers obtained by the Guardian outline action to create 17.5m jobs in Europe by 2020, but paint a grim picture of prospects for Europe’s youth and underline how the sovereign debt crisis of the last two years has widened the gap between the eurozone’s successful northern core and its failing periphery.
- Target: 17 million jobs (Presseurop)
- Europe | Treaty | Growth Plan Or Austerity ? (jobmarketmonitor.com)
- European unemployment | Highest in 14 years and Youth Hit Hardest (jobmarketmonitor.com)
- Spain faces unemployment pain after embracing austerity in European crisis – The Washington Post (jobmarketmonitor.com)
- Skills Gap | Europe : One in five 15-year-olds in Europe lack basic reading and writing skills (jobmarketmonitor.com)