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.
The unemployment rate indicates the percentage of unemployed people over the labour force (employed and unemployed people).
The activity rate indicates the percentage of the active population (employed and unemployed people) over the population aged 15+.
The part-time employment indicates the percentage of part-time workers over total employment.
The employment rate indicates the percentage of people in employment over the population aged 20-64.
The long-term unemployment rate indicates the percentage of people unemployed for 12 months or longer over total unemployment.
Growth rate in Gross Domestic Product.
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