The global financial crisis of the past decades has led to the rise of social and economic inequalities in society. The rise of socio-economic divide in the EU is further aggravated by the labour market situation and the current trends in the division of labour and the type/quality of employment.
It is considered that the high unemployment rate along with the unequal accessibility to the labour market, and the low chances for career development impact on social cohesion, have resulted in “long-standing damages on individuals’ lives”.
In fact, the deterioration of the labour market, as a result of the financial crisis, caused 24.5 per cent of the population of the EU-28 to be at risk of poverty or social exclusion
More specifically, the current labour market condition in the EU, which serves to exacerbate socio-economic inequalities and threatens the social integration of the EU, is characterised by (OECD, 2017):
- 4 million fewer jobs in the EU in 2015 compared to 2007, inequalities across countries in terms of overall employment (i.e. 24 per cent of the unemployment rate in Greece and only 4 per cent in Iceland), youth unemployment and job insecurity;
- inequalities in terms of type of job;
- gender gaps – women are still disadvantaged in terms of employment.
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