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European Semester 2015: a new momentum for jobs, growth and investment

28/11/2014 European Semester 2015: a new momentum for jobs, growth and investment

Putting Europe firmly back on track of sustainable job creation and economic growth, that is the focus of the 2015 Annual Growth Survey (AGS), published today.

The AGS kicks off the European Semester, launches the annual cycle of economic governance and sets out general economic priorities for the EU and provides Member States with policy guidance for the following year. Despite the efforts made at national and EU level, the recovery of the European economy is still weak and fragile.

The arrival of the new Commission with its ambitious agenda is the right timing to generate new momentum.

By proposing to mobilise at least € 300 billion of additional public and private investment over the next three years, Europe is turning a page. This is part of the European Commission's overall approach to support job creation and get Europe growing.

The Commission therefore recommends in its Annual Growth Survey 2015 pursuing an economic and social policy based on three main pillars:

  • a boost to investment,
  • a renewed commitment to structural reforms and
  • the pursuit of fiscal responsibility.

Draft Joint Employment Report

The AGS 2015 is also accompanied by the publication of the Commission proposal for the Joint Employment Report. It analyses the employment situation in Europe and the policy responses by Member States. The report shows that substantial structural reforms pay off. It also analyses the potential for improving the employment and social performance of the EU as a whole.

It also contains the second edition of the scoreboard of key employment and social indicators introduced to strengthen the social dimension of the Economic and Monetary Union.

The report states that although unemployment is slowly decreasing it does remain high in the EU-28, while long-term unemployment is still rising. Youth unemployment also remains at very high levels, but is showing signs of improvement.

Several Member States have introduced measures to tackle the labour challenges, such as tax system reforms, the implementation of Youth Guarantees and improving the education system and promoting adult learning.

The draft Joint Employment Report will be endorsed by the EU's Council of Employment and Social Affairs Ministers and will be then presented to the European Council in order to feed into the European Semester process and surveillance.

Key indicators EU28/EA18 and Member States

Country

Employment rate (20 - 64)

Activity rate (20-64)

Unemployment rate*

Youth unemployment rate (15-24)*

Long-term unemployment

NEET
 (15-24)

Early school leavers

 

% of pop 20-64

% of pop 20-64

% of labour force

% of labour force 15-24

% of labour force

% of pop 15-24

% of pop 18-24

EU28

68.4

76.5

10.0

21.6

5.1

13.0

12.9

EA18

67.7

76.7

11.5

23.5

6.0

12.8

13.8

AT

75.5

79.2

5.1

10.0

1.2

7.1

8.3

BE

67.2

73.2

8.6

24.0

3.9

12.7

11.2

BG

63.5

72.8

11.1

21.5

7.4

21.6

12.5

CY

67.2

79.8

15.3

34.8

6.1

18.7

9.5

CZ

72.5

77.8

5.7

14.2

3.0

9.1

5.6

DE

77.1

81.5

4.9

7.7

2.4

6.3

10.1

DK

75.6

80.9

6.4

12.6

1.8

6.0

11.4

EE

73.3

80.3

7.5

13.5

3.8

11.3

10.4

EL

52.9

72.7

25.9

49.3

18.5

20.4

10.3

ES

58.6

78.8

24.0

53.8

13.0

18.6

26.0

FI

73.3

79.3

8.9

20.2

1.7

9.3

10.0

FR

69.6

76.9

10.5

24.3

4.1

11.2

11.3

HR

57.2

68.6

16.0

41.5

11.0

19.6

4.5

HU

63.2

70.3

7.3

19.3

5.0

15.4

12.1

IE

65.5

75.2

10.9

22.2

7.9

16.1

8.5

IT

59.8

67.9

13.2

43.3

6.9

22.2

17.4

LT

69.9

79.3

9.9

17.5

5.1

11.1

6.4

LU

71.1

75.4

6.0

15.6

1.8

5.0

6.4

LV

69.7

79.1

10.8

21.1

5.8

13.0

9.9

MT

64.8

68.7

5.6

10.4

2.9

10.0

21.2

NL

76.5

81.5

6.5

9.7

2.4

5.1

10.3

PL

64.9

72.3

8.3

23.4

4.4

12.2

5.7

PT

65.4

78.3

13.4

33.3

9.3

14.1

20.3

RO

63.9

68.9

6.7

24.3

3.3

17.2

18.1

SE

79.8

85.9

7.9

22.7

1.5

7.5

9.1

SI

67.2

74.9

8.8

16.4

5.2

9.2

4.3

SK

65.0

75.5

12.9

29.5

10.0

13.7

6.4

UK

74.9

80.3

5.9

15.6

2.7

13.3

13.9

Source:  Eurostat, LFS

* Notes: Unemployment rate, and Youth unemployment rate refer to October 2014 monthly data seasonally adjusted except for:
EE, HU, (September); UK, EL (August), LV (2014Q3) and RO (July for Youth unemployment); LV: quarterly data for total and youth unemployment (2014Q3); 
HR, CY, and SI: quarterly data for youth unemployment (2014Q3); RO: 2014Q2  
  
Data extracted on 28 November 2014