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contents
summary
01 EU Labour
market trends
02 EU member
state labour
trends
03 most heavily
impacted sectors
04 reasons
for announced
job losses
05 european
labour market
outlook
06 major
job layoffs
announced
in europe
07 major
job creations
announced
in europe
about this
report
➔ The European
Monitoring Centre on Change
(EMCC) reports that the labour
market weakened in the third
quarter of 2012, as job losses
climbed and job creations fell.
There were a total of 274
cases of business restructuring
affecting employment, with
01eu labour
market
trends
4 | Employment RestructurinG report | European union edition Q4 2012
197 resulting in redundancies
and 77 involving job creation.
In all, there were a total of
105,076 announced job
losses in the third quarter,
approximately 32,000
higher than in the previous
quarter, and some 48,000
higher than a year earlier.
The number of job creations
in the third quarter totaled
30,520, approximately
17,000 fewer than in the
previous quarter, and 3,000
fewer than a year ago.
The gap between job
losses and creations was at
its highest in two years.
The unemployment rate in
the EU has continued to rise,
sitting at 10.6% at the end of
the third quarter, compared
with 9.8% a year earlier.
Eurostat estimates that there
are 25.7 million people
unemployed in the EU,
approximately 2.1 million
higher than at the same
time in the previous year.
Also, the disparities in
unemployment are at historic
levels, as the varying impacts
of austerity measures take
effect. At the low end,
unemployment ranges from
4.6% in Austria and 5.5% in
Luxembourg, Netherlands
and Germany, up to 25%
in Spain and Greece.

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