Money Buzz! Europa

Tag: employees

  • Austria: 58% of the people who had terminated their employment found another job by the end of June

    Austria: 58% of the people who had terminated their employment found another job by the end of June

    According to Statistics Austria the number of new jobs taken up between April and June 2020 was about 167.000 higher than the number of jobs that ended in this period.

    58% of the people who had terminated their employment in the second half of March 2020 had found employment again by the end of June 2020.

    The number of persons in employment according to the international definition was 4 195 700 for June 2020, already 62 800 higher than in May 2020. Nonetheless, employment figures remained 106 700 below June 2019.

    Analysis by gender shows that while women and men were affected to a similar extent at the beginning of the crisis, men are more likely to quickly re-enter the labour market.

    Overall, by the end of June, 62% of men, but only 52% of women, who left employment in the second half of March, had re-entered the labour market.

  • Over 3,1 million employed persons in Bulgaria in the first quarter of 2020

    Over 3,1 million employed persons in Bulgaria in the first quarter of 2020

    In the first quarter of 2020 there were 3.107.2 thousand employed persons aged 15 years and over, of whom 1.667.1 thousand men and 1.440.1 thousand women, as Bulgarian National Statistical Institute latest report shows.

    The share of employed persons in the total population aged 15 years and over was 52.4% (58.7% for men and 46.7% for women).

    In the first quarter of 2020 there were 148.9 thousand unemployed persons, of whom 86.0 thousand (57.8%) men and 62.9 thousand (42.2%) women. The unemployment rate was 4.6%, 4.9% and 4.2% for men and women respectively.

    In comparison with the first quarter of 2019, the unemployment rate went down by 0.4 percentage points, registering the same decrease for men and women.

    In the first quarter of 2020 the total hourly labour cost (preliminary data) rose by 10.2% compared to the first quarter of 2019. The total hourly labour cost grew by 9.0% in industry, by 9.2% in services and by 8.1% in construction.

    According to the NSI business inquiries in June 2020 18.6% of the industrial enterprises pointed out the labour shortage as a factor limiting their activity.

    In March 2020 the average wage and salary was BGN 1 321 and rose by 1.0% compared to the previous month and by 5.9% compared to March 2019.

  • 43% of Austrians who lost their jobs in March found employment again

    43% of Austrians who lost their jobs in March found employment again

    Out of 238.000 persons, who had terminated their employment in the period 15 to 31 March 2020, 43% had found employment again by the end of May 20200.

    In six out of ten cases with the same employer with whom they were previously employed.

    According to Statistics Austria, 434.000 cases of dependent employment ended in this period, and in 358.000 cases new employment was taken up.

    The number of persons in employment according to the international definition was 4.132.700 for May 2020, still 135.800 below May 2019, but already 50.300 higher than in April 2020.

    Actual working hours also grew significantly in May, averaging 28.9 hours, 3.3 hours more than in April 2020.

    However, it was still 3.3 hours per week less than in the same month last year.

    Nonetheless, unemployment remained high in May at 264.600 unemployed persons.

    The scale of the decline in employment is more visible in the “labour reserve”, which grew from 128.800 persons in February 2020 to 213.800 in May 2020.

  • Unemployment rate in Czechia reached 2.5% in May 2020

    Unemployment rate in Czechia reached 2.5% in May 2020

    The unemployment rate of the aged 15–64 years reached 2.5% in May 2020 and increased by 0.4 p.p., year-on-year, Czech Statistical Office shows.

    The male unemployment rate, seasonally adjusted, attained 2.2%; the female unemployment rate reached 2.9%.

    The employment rate of the aged 15–64 years reached 74.4% in May 2020 and decreased by 0.5 percentage point (p.p.) compared to that in May 2019.

    The male employment rate was 81.4%; the female employment rate was 67.2%, both seasonally adjusted.

    The employment rate of persons aged 15–29 years, seasonally adjusted, was 45.7%, in the age group 30–49 years it attained 87.1%, and in the age group 50–64 years it got to 76.2%.

  • Italy: Number of unemployed people grew in May 2020 by 18.9%

    Italy: Number of unemployed people grew in May 2020 by 18.9%

    Istat shows that in May 2020, in comparison with the previous month, the decrease in employment continued – at a slower pace – and unemployment returned to grow, against a marked drop of inactivity.

    Unemployed people grew (+18.9%, +307 thousand) more among women (+31.3%, +227 thousand) than men (+8.8%, +80 thousand).

    The unemployment rate rose to 7.8% (+1.2 percentage points) and the youth rate increased to 23.5% (+2.0 p.p.).

    The decline of employment (-0.4%, -84 thousand) concerned more women ( 0.7%, 65 thousand) than men (-0.1%, -19 thousand), and brought the employment rate to 57.6% (-0.2 p.p.).

    In May the decline of inactive people aged 15-64 (-1.6%, -229 thousand) was registered for both men ( 1.3%, -71 thousand) and women (-1.7%, -158 thousand), leading the inactivity rate to 37.3% (-0.6 percentage points).

  • How the Austrian labour market performed during the corona crisis

    How the Austrian labour market performed during the corona crisis

    According to Statistics Austria, 434.000 cases of dependent employment ended in March, April and May 2020, and in 358.000 cases new employment was taken up.

    The number of persons in employment according to the international definition was 4.132.700 for May 2020, still 135.800 below May 2019, but already 50.300 higher than in April 2020.

    Actual working hours also grew significantly in May, averaging 28.9 hours, 3.3 hours more than in April 2020.

    However, it was still 3.3 hours per week less than in the same month last year.

    Out of 238.000 persons, who had terminated their employment in the period 15 to 31 March 2020, 43% had found employment again by the end of May 2020 – in six out of ten cases with the same employer with whom they were previously employed.

    Nonetheless, unemployment remained high in May at 264.600 unemployed persons (according to the international definition).

    The scale of the decline in employment is more visible in the “labour reserve”, which grew from 128.800 persons in February 2020 to 213.800 in May 2020.

  • The unemployment rate was 16.2% in the first quarter in Greece

    The unemployment rate was 16.2% in the first quarter in Greece

    Latest ELSTAT data shows that the number of unemployed persons amounted to 745.093. The unemployment rate was 16.2%, compared with 16.8% in the previous quarter and 19.2% in the corresponding quarter of the previous year.

    The number of the unemployed decreased by 5.3% compared to the previous quarter and by 17.9% compared to the same quarter of the previous year.

    The number of persons employed amounted to 3.852.615

    The employment rate decreased by 1.3% compared to the previous quarter and increased by 1.0% compared to the same quarter of the previous year.

    Persons who are subject to a suspension of their contract are still considered to be employed, if the suspension period is less than 3 months or if they receive more than 50 % of their remuneration.

    The number of economically inactive under the age of 75, i.e. the persons who are neither working nor looking for a job, amounted to 3,311,960.

    The share of the inactive persons increased by 2.5 % compared with the previous quarter and by 2.4 % compared to the same quarter of the previous year.

  • Xerox: 82% of employees expected to return to the office in 12-18 months

    Xerox: 82% of employees expected to return to the office in 12-18 months

    A new global business survey commissioned by Xerox shows an estimated 82% of the workforce in respondents’ organizations will have returned to the workplace in 12-18 months’ time, on average.

    In preparation for a return, companies are investing in new resources to support a hybrid remote / in-office workforce, with 56% increasing technology budgets and 34% planning to speed their digital transformation as a result of COVID-19.

    The Xerox Future of Work Survey, conducted by the independent research firm Vanson Bourne, polled 600 IT decision makers including senior C-level professionals from the U.S., Canada, the U.K., Germany and France, whose organizations have at least 500 employees.

    Respondents reported challenges caused by the sudden transition to remote work, with 72% citing they were not fully prepared from a technology perspective.

    In addition to technology (29%), the biggest pain points during the required work from home period were communication breakdown across teams/employees (26%) and maintaining focus (25%).

  • Companies will return with only 40% of the employees back to the office

    Companies will return with only 40% of the employees back to the office

    With the ease of travel restrictions imposed by the Covid-19 pandemic, companies begin to resume their activity in the headquarters located in office buildings, but with only 40% of employees in a first phase, according to a survey of real estate consulting company Cushman & Wakefield Echinox.

    Thus, if during the period of isolation at home imposed by the authorities, only 4% of the employees continued their activity from the office, the occupancy degree of office buildings will ten times increase in the next period.

    However, more than half of the employees working in the services area will continue, at least for a while, to work from home, according to the survey applied between May 21 and 29 on a number of 33 companies in Bucharest and Cluj with a a total of over 17,000 employees working in office buildings.

    Half of these companies have returned or will return to the office with a significant share of employees during June, almost 20% of companies scheduled their return in September, while 13% of the surveyed companies, especially small and medium, intend to return to the office only at the beginning of next year.

    In this context, 30% of the interviewed companies say that in the next 12 months they will need less office space, 61% of the companies cover their office needs with the already contracted spaces, while 9% of the companies expect to need extra space.

    The stock of modern offices in Bucharest and Cluj reaches almost 3.5 million square meters, hosting over 300,000 employees in various fields, such as IT, telecom, financial services (banks – insurance), professional services (lawyers – consultants), media, etc.

  • Slovakia: Decrease in employment and wages deepened in April

    Slovakia: Decrease in employment and wages deepened in April

    A decrease in employment and wages, which was reflected in March figures, deepened even more in most sectors in April, latest statistical figures show.

    In April 2020 compared with April 2019, employment increased only in information and communication by 4,8 %.

    It decreased in food and beverage service activities by 9,3 %, accommodation by 7,5 %, industry and construction equally by 6,1 %, retail trade and in selected market services equally by 4,8 %, wholesale by 3,9 %, sale and repair of motor vehicles by 2,5 % and in transportation and storage by 1,2 %.

    In the first four months of 2020, compared with the corresponding period in 2019, employment rose, on average, in information and communication by 5,1 % and transportation and storage by 1 %.

    It decreased in industry by 3,9 %, retail trade by 3,1 %, food and beverage service activities by 2,2 %, wholesale by 1,8 %, construction by 1,4 %, sale and repair of motor vehicles by 0,8 %, accommodation by 0,3 % and in selected market services by 0,1 %.

    Average monthly wage increased only in retail trade and in wholesale

    In April 2020 compared with April 2019, the average nominal monthly wage increased in selected market services by 1,8 % (reached EUR 999), retail trade by 1,6 % (EUR 759) and in wholesale by 0,8 % (EUR 1 014).

    It significantly decreased in accommodation by 26,9 % (EUR 543), but a fall was recorded also in other activities:

    • food and beverage service activities by 9,8 % (EUR 460),
    • industry by 8,8 % (EUR 1 083),
    • transportation and storage by 5,5 % (EUR 956),
    • sale and repair of motor vehicles by 4,8 % (EUR 981),
    • information and communication by 2,9 % (EUR 1 994), 
    • construction by 1,4 % (EUR 722).

    In April 2020, the average real monthly wage fell in all the surveyed sectors year-on-year, the most in accommodation by 28,4 %.

    It decreased in food and beverage service activities by 11,7 %, industry by 10,7 %, transportation and storage by 7,4 %, sale and repair of motor vehicles by 6,8 %, information and communication by 4,9 %, construction by 3,4 %, wholesale by 1,3 %, retail trade by 0,5 % and in selected market services by 0,3 %.

  • Duration of working life on the rise in the European Union

    Duration of working life on the rise in the European Union

    In 2019, the expected average duration of working life for the European Union’s (EU) adult population aged 15 years and more was 35.9 years, Eurostat data shows.

    This was 0.2 years longer than the average for 2018, and 3.6 years longer than in 2000.

    Men were expected to work longer than women in 2019 (38.3 years for men compared with 33.4 years for women).

    Although the expected average duration of working life has been longer for men than women since the start of the data series, the gender gap has been shrinking.

    Men worked 7.1 years longer than women in 2000, but by 2019 the gender gap had shrunk to 4.9 years.

    Expected duration of working life longest in Sweden, shortest in Italy

    Among EU Member States, Sweden and the Netherlands had the longest duration of working life (42.0 and 41.0 years in 2019 respectively).

    These were the only two EU Member States where the expected duration of working years exceeded 40 years.

    These two Member States were followed by Denmark (40.0 years), Germany (39.1 years) and Estonia (39.0 years).

    In contrast, the shortest expected duration of working life was recorded in Italy (32.0 years) followed by Croatia (32.5 years), Greece (33.2 years), Belgium and Poland (both 33.6 years).

    Highest increase in duration of working life recorded in Malta, lowest increase in Denmark, only decrease in Romania

    Compared with 2000, the expected average duration of working life was higher for all EU Member States in 2019, with the exception of Romania (a decline of 2.2 years).

    The largest increases between 2000 and 2019 in the duration of working life were recorded in Malta (7.6 years), Hungary (6.9 years) and Estonia (5.6 years), and the smallest increases in Denmark (1.7 years) and Greece (1.8 years).

  • Italy had a fall of the unemployed people by 23,9% in April

    Italy had a fall of the unemployed people by 23,9% in April

    In April, a fall of the unemployed people (-23.9%, -484 thousand) was recorded for both men (-17.4%, -179 thousand) and women (-30.6%, -305 thousand), latest Istat data shows.

    The unemployment rate dropped to 6.3% (-1.7 percentage points) and the youth rate fell to 20.3% (-6.2 p.p.).

    In April 2020, the decline of employment (-1.2%, -274 thousand) concerned both men (-1.0%, -131 thousand) and women (-1.5%, -143 thousand), and brought the employment rate to 57.9% (-0.7 p. p.).

    In April the considerable growth of inactive people aged 15-64 (+5.4%, +746 thousand) was registered for both men (+6.0%, +307 thousand) and women (+5.0%, +438 thousand), leading the inactivity rate to 38.1% (+2.0 percentage points).

    In the last three months, also the number of unemployed persons decreased (-20.4%, -497 thousand), while a growth among inactive people aged 15-64 years was registered (+5.2%, +686 thousand).

    On a yearly basis, the decrease of employed people was accompanied by a fall of unemployed persons (-41.9%, -1 million 462 thousand) and a growth of inactive people aged 15-64 (+11.1%, +1 million 462 thousand).