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ILO Foresees Social Unrest in Greece and Cyprus

riotsThere are now over 10 million more jobless people in Europe than in the beginning of the crisis, according to a snapshot of the European labor market released by the International Labor Organization (ILO).

The employment situation has continued to deteriorate since the introduction of fiscal consolidation policies.There are now more than 26 million Europeans without a job, with young and low-skilled workers being the hardest hit.

According to the ILO,the worsening employment situation also means that the risk of social unrest is now 12 percentage points higher than before the crisis started. Especially in countries like Greece, Cyprus, Italy and Portugal, where austerity measures are actually increasing the economic crisis.

The ILO will hold its 9th European Regional Meeting focused on Jobs, growth and social justice, in Oslo on April 8-11.

The Meeting will be structured around plenary discussions and interactive panels with heads of States and Governments, Ministers of Labor and Representatives of international economic and financial institutions.

It is striking that only five out of 27 EU countries, (Austria, Germany, Hungary, Luxemburg and Malta) have witnessed employment rates above pre-crisis levels. Countries like Cyprus, Greece, Portugal and Spain have seen their employment rate drop by more than 3 percentage points in the last two years alone.

However, Germany is the only country in which – since 2008 – youth unemployment seems to only be reduced. Within this context, the organization of the United Nations calls for at least an “employment guarantee” for young people.

 

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