Unemployment in Europe: Influence of automation on labor market

The number of unemployed people in the European Union (EU) reached 22.7 million in 2014. Some of the unemployed lost their jobs due to economic crisis, some due to a lack of qualification. It is possible that increases in productivity brought about by the introduction of automated processes and robotics have paradoxically contributed to such economic and social problems in the short-term period.

Scope

This case study looks at the current and future situation in the employment market in Europe Union area.

This case study touches the issue of the ongoing automation process across industries and looks at the possibility of technological unemployment.

Reasons to buy

What does the situation in the employment market look like in Europe, five years after the financial crisis?

What are the reasons for the high unemployment rates in Europe?

Companies mentioned

None

Table of Contents

OVERVIEW

Catalyst

Summary

UNEMPLOYMENT IN EUROPE HAS RISEN

The unemployment rate stands at

10.2% across the EU in 2014

The short-term level of unemployment in Europe is slowly falling

Unemployment rates differ among EU member states

German unemployment rate lowest in more than two decades

Polish unemployment is lower than the European average

Austria has the healthiest labor market

Unemployment in Spain has fallen below 25% in 2014

YOUTH UNEMPLOYMENT REMAINS AN ISSUE

The long-term percentage of NEET young people remains high

Youth unemployment has wider repercussions for society as a whole

Education, social welfare and taxation impact unemployment

Past experiences in the UK and the Netherlands show how unemployment can be reduced

AUTOMATION AND ROBOTICS WILL CAUSE UNEMPLOYMENT

Automation is growing across companies in the world

Research on artificial intelligence on the rise

Unskilled and repetitive jobs will be replaced

High-skilled and creative jobs should be safe

CONCLUSIONS

Unemployment in the EU should decrease in the long term but automation remains a threat

APPENDIX

Definitions

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