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Transformative EU 27 Labour Markets: Assessing Opportunities, Risks and Trends

Author

Listed:
  • Florin Marius PAVELESCU

    (Romanian Academy, Bucharest, Romania)

  • Laura Mariana CISMAS

    (West University of Timisoara, Timisoara, Romania)

  • Cornelia DUMITRU

    (Romanian Academy, Bucharest, Romania)

Abstract

The labour markets are in a transformative period due to increased uncertainty and overall volatility. Moreover, they show a socially biased fingerprint affecting the social and economic policies at the EU 27 level. The unemployment rate by 6.0% in the spring of 2024 (Eurostat) indicates that the dynamics become more complex on the background of skill shortages increase. All member states display a mixed image regarding the digital economy potential, and several issues have to be addressed for avoiding employment traps, and social discontent in times of the cost-of-living crisis. The paper uses a mixed methods approach to capture relevant quantitative and qualitative data on the transformative EU 27 labour market, with emphasis on countries of Central and Eastern Europe. A rough DEMATEL Z-score method is used to characterize the main interactions and relevant impact factors. The findings show that policy makers and stakeholders need to (re)focus on education to ensure research development and innovation competitiveness, as ‘blue collar’ jobs are increasing. A new emergent “triptych” government-business sector-society is required for reducing persistent polarization and inequalities.

Suggested Citation

  • Florin Marius PAVELESCU & Laura Mariana CISMAS & Cornelia DUMITRU, 2024. "Transformative EU 27 Labour Markets: Assessing Opportunities, Risks and Trends," PROCEEDINGS OF THE INTERNATIONAL CONFERENCE ON ECONOMICS AND SOCIAL SCIENCES, Bucharest University of Economic Studies, Romania, vol. 6(1), pages 464-473, August.
    • Handle: RePEc:rom:conase:v:6:y:2024:i:1:p:464-473
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    More about this item

    Keywords

    labour market; polarisation; inequality; education.;
    All these keywords.

    JEL classification:

    • C1 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General
    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • E26 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Informal Economy; Underground Economy
    • E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination
    • I24 - Health, Education, and Welfare - - Education - - - Education and Inequality
    • I25 - Health, Education, and Welfare - - Education - - - Education and Economic Development

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