ANALYSIS OF EMPLOYMENT IN THE EU ACCORDING TO EUROPE 2020 STRATEGY TARGETS

Unemployment is a long-term problem in many countries worldwide, including European Union. Decreasing unemployment rate has become one of the EU development priorities declared in the Europe 2020 Strategy. Therefore, national policies in this area are coordinated and supported through funding on mod...

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Bibliographic Details
Published in:Economics & sociology 2018-07, Vol.11 (3), p.96-112
Main Authors: Paľová, Dana, Vejačka, Martin
Format: Article
Language:English
Subjects:
Academic achievement
Automation
Developing countries
Econometrics
Economic growth
Economic models
Economic statistics
Education
Educational systems
Employment
Entrepreneurship
Foreign investment
Funding
GDP
Globalization
Gross Domestic Product
Job creation
Labor market
LDCs
Modernization
Objectives
Panel data
Payments
People with disabilities
Population
Poverty
R&D
Remittances
Research & development
Social policy
Transnationalism
Unemployment
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Summary:Unemployment is a long-term problem in many countries worldwide, including European Union. Decreasing unemployment rate has become one of the EU development priorities declared in the Europe 2020 Strategy. Therefore, national policies in this area are coordinated and supported through funding on modernization of education systems, easier access to work, free movement of labor within the EU and support for handicapped people. One of the main objectives of the Europe 2020 Strategy is to achieve a 75% employment rate for the population aged 24-60. The aim of this contribution is to analyze and evaluate the success in achieving this target by the individual EU Member States. Effects of the selected factors on the employment level are also analyzed. The panel data for the period 2004 to 2016 and all EU countries divided into two clusters has been used. The results show the positive impact of gross domestic product growth and average gross earnings on employment growth. Also, a negative impact of remittances on employment was detected confirming the neoclassical view that received payments are deterring people from the willingness to work.
ISSN:2071-789X
2306-3459
DOI:10.14254/2071789X.2018/11-3/6