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Labour market © Fotolia

January 2010 | Issue 16
Labour market review analyses crisis impact on employment and labour market functioning

Released in October 2009, the Labour Market Review analyses labour market and wage developments in the EU before and during the worst economic and financial crisis since World War II. The report focuses on how the crisis is affecting employment trends and the functioning of the labour market, analysing the interaction with key macroeconomic variables such as productivity, wages and GDP. It also examines the situation in individual countries and specific measures taken to minimise the impact of the crisis.

Olli Rehn © EC

January 2009 | Issue 16
Commissioner-designate Olli Rehn in EP confirmation hearing

President José Manuel Barroso announced the portfolio responsibilities for the next Commission on 27 November. Olli Rehn, a Finnish national, was nominated as Commissioner-designate for Economic and Financial Affairs, while outgoing Commissioner Joaquín Almunia will take over the competition portfolio and become a Vice-President of the Commission. Mr Rehn previously served as Commissioner for Enlargement and has a long political career behind him, including as a Member of the European Parliament, Economic Policy Adviser to the Prime Minister of Finland, and Head of Cabinet of former Finnish Commissioner Erkki Liikanen. All appointments have to be approved by the European Parliament following hearings of all the new Commissioners. The final vote on the full Commission is planned for 26 January.

Quarterly Report on the Euro Area

January 2009 | Issue 16
Post-crisis structural changes in the spotlight

The latest Quarterly Report on the Euro Area, published on 22 December, reviews the most recent economic and financial developments in the euro area and analyses the impact of the crisis on labour markets and exchange-rate movements. This new issue takes a closer look at structural reforms and how the public perception on the need for such reforms has changed with the crisis. Also, a new model is used to better assess the effects of knowledge-related reforms on growth performance. The report also includes two focus sections on the impact of the crisis on the banking sector and the sustainability of public finances in the euro area. The next QREA is expected in March 2010.