Money Buzz! Europa

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  • Three quarters of utility workers in EU are men

    Three quarters of utility workers in EU are men

    Eurostat shows that in 2019, 4.6 million persons aged 15 years or older were employed in the utilities sector in the European Union (EU), representing 2.3% of all persons employed.

    The utilities sector covers electricity, gas, steam and air conditioning supply (31% of the employment in the sector), waste collection, treatment and disposal activities (22%), telecommunications (19%), retail sale of automotive fuel in specialised store (10%), water collection, treatment and supply (9%), manufacture of coke and refined petroleum products (4%), sewerage (3%), as well as remediation activities and other waste management services (1%), extraction of crude petroleum and natural gas (1%) and support activities for petroleum and natural gas extraction (1%).

    The utilities sector is male dominated

    In 2019, almost three quarters (73%) of the workers in the sector were men. Most of the workers employed in this sector in the EU were aged 35-49 (40%), while one in three (33%) were aged 50 or above.

    Only one quarter (27%) of the workers in the sector were aged 15-34.

  • 15.9 million people were employed in the food supply sector in EU

    15.9 million people were employed in the food supply sector in EU

    In 2019, 15.9 million people aged over 15 were employed in the food supply sector in the European Union (EU), representing 8% of total employment, Eurostat shows.

    Almost half of people employed in the food supply sector worked in crop and animal production, hunting and related service activities (46%).

    Meanwhile, jobs in the manufacture of food products accounted for 26% of employment of this sector, followed by jobs in: retail sale of food, beverages and tobacco in specialised stores (15%), wholesale of food, beverages and tobacco (8%), manufacture of beverages (3%), wholesale of agricultural raw materials and live animals (2%) and fishing and aquaculture (1%).

    The majority of food supply workers were men (59%) although the gender distribution varied with the activities: fishing and aquaculture recorded 88% of men while retail sale of food, beverages and tobacco registered 63% of women.

    As regards the distribution by age groups, over one-third (38%) of people employed in the food supply sector in the EU were aged 35 to 49, while people aged 50 or above accounted for 34% and those aged 15-34 for 28%.

    Romania recorded the highest share of food supply workers

    Among the EU Member States, Romania recorded the highest share of food supply workers (23%), followed by Greece (18%) and Poland (14%). By contrast, the lowest shares were recorded in Luxembourg and Sweden (both 3%), followed by Denmark (4%).

    Germany is the only EU Member State where women were predominant in the food supply (52% of women and 48% of men) while Ireland recorded the highest share of men (78%), followed by Malta (72%) and Luxembourg (69%).

    In addition, only five EU Member States (Cyprus, Denmark, Malta, the Netherlands and Sweden) had their workers aged 15-34 dominating the food supply sector.

    In a majority (16 out of 27) of the EU Member States, the largest shares of food supply workers were in the 35-49 age group, with the highest shares reported in Bulgaria, Czechia, Spain and Hungary (all 43%), while in six EU Member States (Germany, Finland, Lithuania, Latvia, Portugal and Slovenia), people aged 50 and above accounted for the largest share of food supply workers.

  • Annual inflation down to 0.3% in the euro area

    Annual inflation down to 0.3% in the euro area

    In April 2020, a month marked by COVID-19 containment measures in all countries, the euro area annual inflation rate was 0.3%, down from 0.7% in March. A year earlier, the rate was 1.7%.

    European Union annual inflation was 0.7% in April 2020, down from 1.2% in March. A year earlier, the rate was 1.9%.

    These figures are published by Eurostat, the statistical office of the European Union.

    The lowest annual rates were registered in Slovenia (-1.3%), Cyprus (-1.2%), Estonia and Greece (both -0.9%).

    The highest annual rates were recorded in Czechia (3.3%), Poland (2.9%) and Hungary (2.5%). Compared with March, annual inflation fell in twenty-six Member States and remained stable in one.

    In April, the highest contribution to the annual euro area inflation rate came from food, alcohol & tobacco (+0.67 percentage points, pp), followed by services (+0.52 pp), non-energy industrial goods (+0.09 pp) and energy (-0.97 pp).

  • Unprecedented collapse for the European car market in April

    Unprecedented collapse for the European car market in April

    In April 2020, registrations of new passenger cars in the European Union posted a year-on-year decline of 76.3%, latest ACEA (The European Automobile Manufacturers’ Association) data show.

    The first full month with COVID-19 restrictions in place resulted in the strongest monthly drop in car demand since records began.

    With most showrooms across the EU closed for the entire month, the number of new cars sold fell from 1.143.046 units in April 2019 to 270.682 units last month.

    Biggest losses in Italy and Spain

    Each of the 27 EU markets recorded double-digit declines in April, but Italy and Spain endured the biggest losses, with car registrations falling by 97.6% and 96.5% respectively.

    Demand dropped by 61.1% in Germany, while France saw an 88.8% contraction in April.

    From January to April 2020, EU demand for new passenger cars contracted by 38.5%, owing to the negative impact of the coronavirus on March and April results.

    So far this year, registrations fell by half in three of the four key EU markets: Italy -50.7%, Spain -48.9% and France -48.0%. In Germany, demand contracted by 31.0% over the first four months of 2020.

    EU production losses: 2.424.955 motor vehicles

    EU-wide production losses due to factory shutdowns amount to at least 2.424.955 motor vehicles so far. This figure includes passenger cars, trucks, vans, buses and coaches.

    The average factories shutdown duration is 30 working days at the moment.

    CountryProduction lostDowntime (working days)
    Austria26,48034
    Belgium33,36025
    Croatia–29
    Czech Republic155,06029
    Finland11,60425
    France278,42534
    Germany605,72229
    Hungary51,55222
    Italy159,33641
    Netherlands30,81925
    Poland101,95736
    Portugal41,52535
    Romania68,67331
    Slovakia114,63224
    Slovenia19,39927
    Spain452,15534
    Sweden23,46415
    United Kingdom250,79240
    TOTAL (EU + UK)2,424,95530
    Production lost in motor vehicles factories | Source: ACEA
  • 64% of EU citizens living with children had basic digital skills

    64% of EU citizens living with children had basic digital skills

    In the European Union (EU) in 2019, almost two-thirds of individuals (64%) aged 16 to 74 living in a household with children under 16 years old had basic or above basic digital skills, show Eurostat.

    This was one percentage point (pp) higher than 2017 (63%) and up by 3 pp from 2015 (61%). In contrast, 28% of individuals living in a household with children aged 0-16, reported that they had low overall digital skills.

    The share of individuals living in a household without children with basic or above basic digital skills was by 11 pp lower (53%) compared to those living with children (64%).

    Among EU Member States, Finland had the highest share of individuals aged 16 to 74 living in a household with children under 16 years’ old who reported that they had basic or above basic overall digital skills (88%), followed by the Netherlands (83%), Sweden (81%), Germany and Estonia (both 80%).

    By contrast, the lowest shares were observed in Bulgaria (32%), Romania (34%), Italy (45%), Cyprus (54%) and Poland (55%).

  • Industrial production down by 11.3% in euro area in March 2020

    Industrial production down by 11.3% in euro area in March 2020

    In March 2020, the COVID-19 containment measures widely introduced by EU nations had a significant impact, as industrial production fell by 11.3% in the euro area and by 10.4% in the EU, compared with February 2020, according to estimates from Eurostat, the statistical office of the European Union.

    In February 2020, industrial production fell by 0.1% in the euro area and remained stable in the EU.

    In March 2020 compared with March 2019, industrial production decreased by 12.9% in the euro area and by 11.8% in the EU.

    In the euro area in March 2020, compared with February 2020, production of durable consumer goods fell by 26.3%, capital goods by 15.9%, intermediate goods by 11.0%, energy by 4.0% and non-durable consumer goods by 1.6%.

    In the EU, production of durable consumer goods fell by 23.8%, capital goods by 15.1%, intermediate goods by 9.9%, energy by 3.5% and non-durable consumer goods by 1.2%.

    Italy tops industrial production decline

    Among Member States for which data are available, the largest decreases in industrial production were registered in Italy (-28.4%), Slovakia (-20.3%) and France (-16.4%).

    The highest increases were observed in Ireland (+15.5%), Greece and Finland (both +1.9%) and Lithuania (+0.7%).

  • Eurostat: How could coronavirus impact EU tourism?

    Eurostat: How could coronavirus impact EU tourism?

    To gauge the potential loss that the tourism sector will have experienced because of the Covid-19 outbreak restrictions, Eurostat examined tourism figures of the previous two years for the periods of March-June (the ‘spring shoulder season’) and July-August (the ‘peak summer season’).

    Spring and summer are the most popular seasons for Europe’s tourism

    Spring and summer are the most popular seasons for Europe’s tourism industry. In 2019, the number of nights spent by residents and non-residents in EU tourist accommodation establishments during the spring and the peak summer season each accounted for nearly one-third (32%) of the annual total for overnight stays.

    The share of nights spent in these accommodation establishments was particularly high in the month of June for the spring season, accounting for 11% of the annual total, as well as in the months of July (15%) and August (17%). A similar trend is observed for both residents and non-residents of the countries visited.

    Across the EU Member States, the share that the spring season contributes towards annual tourism accommodation stays is relatively similar, ranging from 24% in Croatia and 27% in Bulgaria to 35% in Cyprus, Luxembourg, Malta and the Netherlands. For the peak summer season, this share ranged from 23% in Malta to 58% in Croatia.

    390 million trips in spring, 270 million trips during peak summer season

    In spring 2018, EU residents made almost 390 million tourist trips, representing 34% of the annual total. During these trips, they cumulated over 1.8 billion overnight stays and spent €170 billion.

    More than two-thirds (70%) of these trips were inside the country of residence, while 22% of them were trips to other EU countries and 8% to destinations outside the EU. A similar pattern was observed for trips throughout the entire year, including during the peak summer season.

    In summer 2018, over 270 million trips were made by EU residents, accounting for 24% of the annual total. These trips amounted to over 1.9 billion overnight stays and almost €138 billion in tourism spending.

    Spain and Italy top destinations for intra-EU visitors

    The EU residents’ preferred European destinations outside their own country were: Spain, Italy and to a lesser extent France and Germany, which together accounted for 49% of intra-EU trips during spring 2018 and 45% in summer.

    From March to June, Austria dominated the top-5 of preferred intra-EU destinations, in July and August Croatia was among the most popular destinations for EU tourists.

    Luxembourgers prefer to travel abroad during spring and summer

    In 2018, residents of Luxembourg preferred to travel abroad, with almost all their tourist trips (98%) being outside their country of residence in spring and 99% of their trips being abroad during the peak summer season.

    A similar trend was observed for residents in Belgium, where a vast majority of trips during the spring and peak summer season were made outside the country of residence (79%).

    At the other end of the scale, residents in Romania and Spain preferred to travel within their country of residence in spring, making 94% and 90% domestic trips respectively.

    During summer, this was also true for the Greeks, Romanians, Portuguese and Spanish, who took the vast majority of their tourist trips inside their country of residence (95%, 91%, 90% and 89% respectively).

  • In 2019, 2.3% of employees in EU had a work contract under 3 months’ duration

    In 2019, 2.3% of employees in EU had a work contract under 3 months’ duration

    In 2019, 2.3% of employees in the European Union (EU) aged 20-64 had a precarious job, meaning that their work contract did not exceed three months’ duration, show Eurostat.

    The share of precarious employment, as a percentage of total employment, has remained relatively stable over the past decade, ranging from a low of 2.3% in 2009 to a high of 2.5% during the period 2015-2017.

    Employees in the agriculture, forestry and fishing sector had the highest share of precarious work contracts, at 7.5% in 2019. This was followed by the wholesale and retail trade, transport, accommodation and food service activities sector (2.8%) and the and the sector of the other service activities and the activities of households as employers (2.4%).

    Seasonality in precarious employment

    Between 2014 and 2019, most economic activities displayed seasonal fluctuations, however at different magnitudes. Overall, the third quarter had the highest number of employees with precarious jobs.

    Among all economic activities, the wholesale, retail trade, transport, accommodation and food service activities sector represented the sharpest fluctuations in the number of employees who had precarious jobs, with an average increase of 30% from the second to the third quarter.

    Share of precarious employment highest in Croatia, lowest in Czechia and Romania

    Among the EU Member States, Croatia has had one of the highest shares of precarious employment since 2012. However, since its peak in 2016 (8.0%) this share has been gradually decreasing, reaching 5.8% in 2019.

    Other EU countries reporting the highest shares of precarious employment in 2019 were France (5.0%), Spain (3.8), Belgium (3.6%), and Italy (3.4%).

    At the other end of the scale, Czechia and Romania recorded the lowest share of precarious employment (both 0.2%).

  • EU’s volume of retail trade fell by 10% in March 2020

    EU’s volume of retail trade fell by 10% in March 2020

    To prevent the spread of the COVID-19 pandemic, EU Member States have taken a wide variety of restrictive measures. Among other limitations, non-essential retail shops have closed, affecting the retail trade volumes.

    In March 2020, EU’s volume of retail trade fell by 10% compared with February 2020. For a comparison, the retail volume increased on average by 0.3% in March 2010 to 2019, show Eurostat latest data.   

    Spotlight on the effects across the EU

    Since the COVID-19 containment measures differed between the EU Member States as to their timing and strictness, the effects on retail trade also vary.

    In March 2020, retail trade of food products (incl. beverages and tobacco) increased substantially compared with the average March growth rates of the last decade. Among EU Member States, highest increases were observed in Luxembourg (+20%), Ireland (+14%) and Belgium (+13%).

    In contrast, purchases of non-food products (excl. automotive fuel) dropped in all EU Member States, with highest decreases observed in Luxembourg (-35%), France and Spain (both -33.0%). The reduction in retail volume was particularly strong for textiles, with the sales reduced by half or more in a vast majority of EU Member States.

    Supermarket recorded increases in sales, department store decreases

    Around mid-March 2020, many countries closed non-essential stores, whilst groceries, supermarkets and pharmacies could remain open. This had a clear effect on the retail trade volumes of various distribution channels.

    Sales in supermarkets generally increased, even in countries that experienced the strongest declines in sales activities such as Bulgaria (-18% in total and 2% in supermarkets), Spain (-14% in total and 11% in supermarkets) and Portugal (-12% in total and 3% in supermarkets).

    In contrast, sales in department stores, which were mostly closed after mid-March, significantly dropped across the EU. The largest drops were registered in Belgium (-60%), Spain (-39%), Lithuania (-36%) and Germany (-30%).

  • One in three people in EU unable to face unexpected financial expenses

    One in three people in EU unable to face unexpected financial expenses

    • In the European Union (EU), almost one in three people were unable to face unexpected financial expenses (32%) in 2019.
    • These people were not able to face unexpected financial expenses such as costs for surgery, a funeral, a replacement of washing machine or a car in 2019.

    Since its peak in 2012 (40%), the ability to handle unexpected expenses has improved markedly. Due to lockdown implemented across the world in 2020 to slow down the rapid spread of the coronavirus, the ability to face unexpected financial expenses is crucial, especially in case of loss of income.  

    The highest shares of people unable to face unexpected financial expenses was reported among single person households: 40% of single persons were unable to face unexpected financial expenses, and in particular 56% of single persons with children. Higher shares were recorded for single females (43%) than for single males (36%).

    In contrast, the lowest shares were recorded in households with two adults: 25% were unable to face unexpected financial expenses; 28% of two adult households with one dependent child and 26% of those with two dependent children.

    Among all household types, the proportion of people unable to face unexpected financial expenses was lowest for two adults, of whom at least one is 65 or over (24%).

    Inability to face unexpected financial expenses highest in Croatia, lowest in Malta

    Among the EU Member States, the share of people unable to face unexpected financial expenses was highest in Croatia (52%), followed by Latvia (50%), Greece and Cyprus (both 48%), Lithuania (47%) and Romania (44%).

    Fewer than one in four people were unable to face unexpected financial expenses in Denmark (23%), Czechia and the Netherlands (both 22%), Luxembourg, Austria and Sweden (all 20%, 2018 data) as well as Malta (15%).

  • 22 EU regions had still not grown back from the 2008 recession

    As we face the prospect of a recession once again, it is instructive to look back at how quickly countries in Europe recovered from the last recession and what proportion of households were left behind, Money Buzz! learned from a study published by the Federation of International Employers (FedEE).

    If we take GDP per inhabitant (at equivalent purchasing power parities) as our measure of economic well-being, then the lowest point in the last recession came in 2008. How long did it take for the European Union’s (EU’s) 270 regions to recover from that point?

    The most curious fact was that six regions in Poland and the French Island of Corsica never experienced the recession at all. Their economies just kept on growing. It is also important to note that, by 2011, half of the EU’s regions had recovered their position to be at, or above, their 2008 level. But, for the rest, recovery was slow – and even by 2017 a total of 22 EU regions had still not grown back to their 2008 position. 12 of these most ailing regions were in Greece, four in Italy and three in Spain.

    By 2017 not even every thriving region had a universal picture of improving affluence. In many regions many people were left behind. One way to look at this is to measure the level of work intensity amongst adults in households – excluding those occupants in full-time education or retired. Low intensity means that less than 20% of available hours were worked in the household over the previous 12 months.

    Looked at in this way, the social and economic landscape of the European Union looks very different. Low work intensity for the whole of the EU accounted for just over 10% of households. But if we concentrate on cities, then low work intensity was highest in Belgium and Ireland (over 20% and 15% of households respectively). Low work intensity in rural areas was highest in Bulgaria (well over 20%), Spain, Croatia and, once again, the Irish Republic. Finally, if we look at smaller towns and suburbs, low work intensity was highest (again) in the Irish Republic and Greece.

    By sharp contrast, the most industrious households in cities could be found in Slovakia, in rural areas the Czech Republic, France and the Netherlands and in small towns and suburbs across Malta, Lithuania, Poland and Estonia.