Essay examples --

It all started in the summer of 2007 when a crisis hit the U.S., and because of the huge government interventions that were made, the U.S. and most European countries got into a recession. The EU crisis was also caused by big debts made mostly in Spain and Italy, before 2008. The private sectors (companies and mortgage borrowers) who were taking out loans were the main reason for this crisis. There was a decrease in the interests rates in southern European countries when they joined the euro and that resulted and caused the countries to go into a huge debt. This had negative effects on the financial markets, a slowing down of the economic growth in the industrialized countries, and impacted the European labor markets. After the Second World War the unemployment rates in Europe were already low, and with the crisis the percentage of the unemployment rates just increased in the following years. All of this was due to different problems and occurrences that they were facing such as; the two oil price shocks, the decrease in the production growth, the disinflationary policy of many Central Banks, and so on. This recession resulted in very high unemployment, and the increase in unemployment during that period was made by using some internal measures (such as flexible working time arrangements, temporary closures, etc.) but the unemployment was not equally shared between the different groups of people (the largest differences occurred due to the sex, education, age, etc.) but at the end these measures only delayed the process of significant labor unemployment, it didn’t help the situation go back to how it used to be before the crisis. The labor force of a population is involved with the people who are employed and unemployed. The Inte... ... face many problems, the European labor market was affected by this crisis as well, and there were many other problems that were faced during this hard period. The EU’s plans for the future are to minimize the job losses and prevent unemployment, improve job creation, and to recover the economy in a full and stable way. In order for them to make this happen and in order for them to improve and develop the flexibility of the labor market and in order to raise the labor supply, they made some cuts in the income taxes, improved the access to non-standard forms of work, redirected the active labor market policies, and similar activities like these were made. But even though the EU crisis has influenced the European labor market and has created many problems and struggles with unemployment, in the past couple of years they managed to increase the unemployment rate by 2%.