The EU labour market crisis and recovery policies. The Bulgarian response to the crisis

The current study analyzes the status of both the European and the Bulgarian labor markets from the standpoint of the effects of the current crisis, which has affected the supply and demand of labor as well as the employment structure. It further examines the anti-crisis policies, which have been implemented by the EU and the member-countries of the Community as a means to mitigate the negative effects of the present global crisis that has befallen labor markets. It examines the scale of the crisis and the magnitude of its effect on the quantitative and qualitative parameters, which characterize the labor markets in the European countries and in Bulgaria. The current paper comments on the effects of the short-term policies aimed at overcoming the initial crisis-induced shocks. It further underlines the palliative characteristic of those measures and the need for a modern transition towards policies of a structural character. The combination of short-term anti-crisis measures with fundamental structural changes within labor markets is the successful strategy for restructuring labor markets as a means to achieve a higher level of labor productivity alongside a greater degree of competitiveness and dynamic economic growth. The book analyzes the status of both European and Bulgarian labour markets in regards to the effects of the current crisis on the labour supply and demand and employment structure. Further it examines anti-crisis policies implemented by EU member countries as a means to mitigate the negative effects of the current global crisis on the labour markets. The study examines the scale of the crisis and the magnitude of its effect on the quantitative and qualitative parameters characterizing the labour markets in EU countries and Bulgaria. The book comments on the effects of the short-term policies for overcoming the initial crisis-induced shocks. It underlines the palliative characteristic of those measures and the need for a modern transition towards structural policies. The combination of short-term anti-crisis measures and substantial structural changes is a successful strategy for restructuring the labour markets. Thus, a higher labour productivity and higher competitiveness and dynamic economic growth will be achieved.