The information available under Labour Market Context examines a range of labour market and economic indicators, such as the employment rate and the GDP, providing you with the all-important context to assess skill needs.
Conditions in various European economies and labour markets will explain much about the demand for, and supply of skills. For instance, employment levels are significantly determined by the economic cycle: if economic growth is strong with employment rising rapidly, you may expect – other things being equal –an increase in skill demand. Following the economic crisis, economic recovery has been slow but fairly resilient and widespread across Member States, yet with considerable variation. Nonetheless, in the EU, employment is forecast to surpass the 2008 pre-crisis level only in 2020.