Christopher Pissarides (2011) - The Future of Work in Europe

Christopher Pissarides (2011)

The Future of Work in Europe

Christopher Pissarides (2011)

The Future of Work in Europe

Abstract

Employment in Europe is still behind the targets set by European leaders more than ten years ago. Although in some countries the targets of 70 per cent employment rate for men and 60 per cent for women are met, in others they are not likely to be met in the near future, especially for women. Employment rates for the over-55 year old are also too low, compared with the objectives. With an ageing population and still high unemployment rates, questions arise whether we are entering a new era of low employment rates, high taxes to finance increasingly expensive pensions and high unemployment.

Yet when comparing European employment patterns with US patterns, and when looking at trends, it emerges that Europe is still behind America in the creation of jobs in business services and in the health and education sectors. Health and education in Europe is largely funded by governments, and this might explain why there is restraint in the creation of more jobs. The fiscal costs might be too high for voters. Business services need to operate in a flexible environment, because in a regulated market firms might prefer to service their own business internally. The presentation will review the work patters in Europe and compare them both across Europe and with America, and reach conclusions about the type of jobs that can be created in Europe to satisfy the overall employment objectives of the Union.

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