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An employment-oriented investment strategy for Europe

Author

Listed:
  • Escudero, Verónica.
  • Horne, Richard
  • Kühn, Stefan.
  • Milasi, Santo.
  • López Mourelo, Elva.
  • Pignatti, Clemente.
  • Silvander, Johanna.
  • Tobin, Steven.

Abstract

The employment situation remains a major source of concern in the majority of countries in the European Union. Half of the region’s unemployed have been without work for more than a year, and unless the policy approach changes, the prospects are for a sluggish employment recovery. The Investment Plan proposed by the European Commission is thus a welcome initiative that recognizes the immediate need for stimulating growth, fostering Europe’s competitiveness and tackling the employment crisis. This report finds that for the Investment Plan to make a significant dent in unemployment, the design of the programme is crucial. Taking into account the magnitude and diversity of the labour market challenges, placing greater emphasis on complementary labour market policies and ensuring that small enterprises have access to credit will lead to better outcomes. In addition, any measures developed as part of the Investment Plan need to form the basis of a medium-term employment strategy that aims at quality job creation and avoids a “race to the bottom” in terms of wages and working conditions.

Suggested Citation

  • Escudero, Verónica. & Horne, Richard & Kühn, Stefan. & Milasi, Santo. & López Mourelo, Elva. & Pignatti, Clemente. & Silvander, Johanna. & Tobin, Steven., 2014. "An employment-oriented investment strategy for Europe," Studies on Growth with Equity, International Labour Office, Research Department, number 994870563402676, January.
  • Handle: RePEc:ilo:ilosge:994870563402676
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    File URL: http://www.ilo.org/public/libdoc/ilo/2014/487056.pdf
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    References listed on IDEAS

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    5. Martin, John P. & Grubb, David, 2001. "What works and for whom: a review of OECD countries' experiences with active labour market policies," Working Paper Series 2001:14, IFAU - Institute for Evaluation of Labour Market and Education Policy.
    6. Berkmen, S. Pelin & Gelos, Gaston & Rennhack, Robert & Walsh, James P., 2012. "The global financial crisis: Explaining cross-country differences in the output impact," Journal of International Money and Finance, Elsevier, vol. 31(1), pages 42-59.
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