Archive:Labour market statistics introduced
Latest update of text: October 2011
[Glossary:Labour market|Labour market]] statistics measure the involvement of individuals, households and businesses in the labour market, where the former mainly appear offering their labour in return for remuneration while the latter act as employers. The market outcomes – for example employment, unemployment, vacant posts, wage levels, labour costs – heavily affect not only the economy, but directly the personal life of virtually every citizen. Eurostat statistics cover both the supply and the demand side as well as policy interventions on the labour market. Data is collected on short-term and structural aspects, in monetary and non-monetary terms.
Labour market statistics are at the heart of many European Union (EU) policies following the introduction of an employment chapter into the Amsterdam Treaty in 1997. The European employment strategy (EES) seeks to create more and better jobs throughout the EU. A central element of the EES under the Lisbon objectives was the employment policy guidelines as part of an integrated approach based on three pillars: macro-economic policies, micro-economic reforms and employment policies.
The financial and economic crisis has however reversed much of the progress achieved in Europe since 2000. The Europe 2020 strategy for smart, sustainable and inclusive growth put forward by the European Commission is the EU’s growth strategy for the coming decade. As part of the flagship initiatives, 'An agenda for new skills and jobs' and 'Youth on the move', (youth) unemployment and employment rates will be targeted through a range of policies, including proposals aimed at education and training institutions, or measures for the creation of a (work) environment conducive to higher activity rates and higher labour productivity. There are also initiatives aimed at facilitating the entry of young people into the labour market. To measure progress in meeting the Europe 2020 goals, five headline targets to be met by 2020 have been agreed; these are to be translated into national targets in each EU Member State, reflecting different situations and circumstances. One of these targets is that 75 % of 20 to 64 year-olds should be employed in the EU by 2020. The integrated economic and employment guidelines were also revised as part of the Europe 2020 strategy.