These EU Countries Had Their Employment Levels Crushed By The Great Recession

Unemployment

We may be closer to the next recession than the last one, but Eurofound published some figures this week that gave an insight into employment trends during the turbulent period between the second quarter of 2008 and the second quarter of 2010.

The recession hit EU countries in different ways when it came to employment. Some were affected only very slightly, losing a small percentage of their work force. Others, towards the top of our list, were impacted a little bit more.

Though the figures here represent the change in employment from Q2 2008 to Q2 2010, it is interesting to note when unemployment started to rise in each nation and when it stopped. For some, the decline was already coming before 2008.

Overall there was a net loss of 5 million jobs in the EU. The Eurozone saw a 2.3 per cent drop in employment during the period.

So, who got hit hardest?

#20 France

Percentage decrease in employment during recession: 0.7 per cent

Average annual employment growth 1998-2007: 1.7 per cent

Period of employment decrease: Q3 2008-Q1 2010

SOURCE: Eurofound

#19 Austria

Percentage decrease in employment during recession: 0.9 per cent

Average annual employment growth 1998-2007: 1.1 per cent

Period of employment decrease: Q3 2008-Q1 2009

SOURCE: Eurofound

#18 Netherlands

Percentage decrease in employment during recession: 1 per cent

Average annual employment growth 1998-2007: 1.5 per cent

Period of employment decrease: Q4 2008-Q3 2010

SOURCE: Eurofound

#17 Sweden

Percentage decrease in employment during recession: 1.6 per cent

Average annual employment growth 1998-2007: 1.6 per cent

Period of employment decrease: Q3 2008-Q1 2010

SOURCE: Eurofound

# 16 Hungary

Percentage decrease in employment during recession: 2.3 per cent

Average annual employment growth 1998-2007: 0.8 per cent

Period of employment decrease: Q3 2007-Q1 2010

SOURCE: Eurofound

Tied #14 UK

Percentage decrease in employment during recession: 2.4 per cent

Average annual employment growth 1998-2007: 0.8 per cent

Period of employment decrease: Q4 2007-Q1 2010

SOURCE: Eurofound

Tied #14 Italy

Percentage decrease in employment during recession: 2.4 per cent

Average annual employment growth 1998-2007: 1.5 per cent

Period of employment decrease: Q2 2008-Q1 2010

SOURCE: Eurofound

#13 Slovenia

Percentage decrease in employment during recession: 2.5 per cent

Average annual employment growth 1998-2007: 1 per cent

Period of employment decrease: Q3 2008-Q3 2010

SOURCE: Eurofound

#12 Czech Republic

Percentage decrease in employment during recession: 2.6 per cent

Average annual employment growth 1998-2007: 0.2 per cent

Period of employment decrease: Q4 2008-Q1 2010

SOURCE: Eurofound

#11 Greece

Percentage decrease in employment during recession: 3.4 per cent

Average annual employment growth 1998-2007: 1.4 per cent

Period of employment decrease: Q3 2008-Q3 2010

SOURCE: Eurofound

#10 Finland

Percentage decrease in employment during recession: 3.6 per cent

Average annual employment growth 1998-2007: 1.5 per cent

Period of employment decrease: Q3 2008-Q1 2010

SOURCE: Eurofound

#9 Slovakia

Percentage decrease in employment during recession: 3.6 per cent

Average annual employment growth 1998-2007: 0.8 per cent

Period of employment decrease: Q3 2008-Q1 2010

SOURCE: Eurofound

#8 Portugal

Percentage decrease in employment during recession: 4.7 per cent

Average annual employment growth 1998-2007: 0.6 per cent

Period of employment decrease: Q2 2008-Q3 2010

SOURCE: Eurofound

#7 Denmark

Percentage decrease in employment during recession: 4.9 per cent

Average annual employment growth 1998-2007: 0.4 per cent

Period of employment decrease: Q2 2008-Q1 2010

SOURCE: Eurofound

#6 Bulgaria

Percentage decrease in employment during recession: 8.6 per cent

Average annual employment growth 1998-2007: 1.9 per cent

Period of employment decrease: Q3 2008-Q1 2010

SOURCE: Eurofound

#5 Spain

Percentage decrease in employment during recession: 9.6 per cent

Average annual employment growth 1998-2007: 5.3 per cent

Period of employment decrease: Q3 2007-Q1 2010

SOURCE: Eurofound

#4 Ireland

Percentage decrease in employment during recession: 12 per cent

Average annual employment growth 1998-2007: 4.7 per cent

Period of employment decrease: Q3 2007-Q1 2010

SOURCE: Eurofound

#3 Lithuania

Percentage decrease in employment during recession: 13 per cent

Average annual employment growth 1998-2007: 0.4 per cent

Period of employment decrease: Q3 2007-Q2 2010

SOURCE: Eurofound

#2 Estonia

Percentage decrease in employment during recession: 15.2 per cent

Average annual employment growth 1998-2007: 0.7 per cent

Period of employment decrease: Q3 2008-Q1 2010

SOURCE: Eurofound

And, #1 Latvia

Percentage decrease in employment during recession: 16.2 per cent

Average annual employment growth 1998-2007: 1.4 per cent

Period of employment decrease: Q4 2007-Q1 2010

SOURCE: Eurofound

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