Labour market, germany - italy - spain

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2012 The Future of Labour Market: Germany - Italy - Spain

Bruno Stähelin 338744

Table of Contents

1. 2. 3. 3.1

Introduction..................................................................................................................................... 2 Current EconomicCrisis................................................................................................................... 2 Labour Market Policies .................................................................................................................... 4 Employment Trends .................................................................................................................... 5 Skill Supply Trends................................................................................................................... 7

3.2 4.

Demographic Trends ....................................................................................................................... 9 4.1 4.2 Aging Population ..................................................................................................................... 9 Immigration........................................................................................................................... 10

5. 6.

Conclusion ..................................................................................................................................... 12 Reference ...................................................................................................................................... 13

List of GraphsGraph 1 - Unemployment rate - seasonally adjusted data, monthly average, by sex and age groups .. 3 Graph 2 - Interest rates - 10 years maturity ............................................................................................ 4 Graph 3 – Skills forecast: employment trends by sector, Germany........................................................ 5 Graph 4 - Skills forecast: employmenttrends by sector, Italy ................................................................ 6 Graph 5 - Skills forecast: employment trends by sector, Spain .............................................................. 6 Graph 6 - Changes (%) between 2010 - 20 in employment trends by sector ......................................... 7 Graph 7 – Changes in population and labour force by age..................................................................... 8 Graph 8 – Population by age group, gender, in 2000 and 2050, Germany............................................. 9 Graph 9 - Population by age group, gender, in 2000 and 2050, Italy ..................................................... 9 Graph 10 - Population by age group, gender, in 2000 and 2050, Spain............................................... 10 Graph 11 - Net migration rate (migrants/1,000 population) ................................................................ 11

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1. Introduction
Unemployment levels have reached its highest peak in European Union since the euro came into circulation and a broader political and economic tie were established between the member states in January 2002. At the time, the eurosymbolized the integration of a continent that in the 20th century faced two world wars and an ideological split that almost led to a third. The euro area1 (EA17) seasonally-adjusted unemployment rate was 10.9% in March 2012, compared with 8.2% in January 2002. (Eurostat Press Office, 2012). Even though the data shows a slow development in the unemployment rate throughout the years for the EA17, thecomparison between single member states shows large asymmetry among them, which has becoming more evident after the economic crisis began in 2008. As already foreseen and defined in the Theory of Optimum Currency Area, not all countries within EA17 fit the basic requirements needed for a full and symmetric formation an Optimum Currency Area, mainly because it does not have a high degree of “factor...
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