New Developments On National And European Labour Markets €“ The Social Dimension

The economic and financial crisis is long past, but it still throws a concerning shadow over the European Union and the world. At EU level, it is undermining its very essence of cohesion and convergence, as one member-state – the United Kingdom – is in full process of negotiating the exit, and other member-states search for solutions for what seems to be a full-fledged social and cultural crisis of Europe in the aftermath of the Great Recession. The answers for mitigating the threats to cohesion and convergence should be sought in the real economy and the social dimension of the European Union. These two dimensions covering both cohesion and convergence are of essence, and their core expression is the labour market and the developments regarding employment and unemployment. The present paper presents a brief review of the current state-of-affairs with respect to the main economic and social issues from the viewpoint of labour market developments, by suggesting the importance and correlation between institutional factors/ arrangements and social innovation, as an answer to the current concerning issues and developments on national and European labour markets.