home4 | Employment RestructurinG report | European union edition Q3 2012 contents summary 01 EU Labour market trends 02 EU member state labour01 trends ➔ Labour market The unemployment rate in Stagnant economic growth Germany performed slightly 03 most heavily impacted sectors weakness persisted during the EU stood at 10.4% in July, across the region is pushing better than forecast with 04 reasons the second quarter of 2012, up from 9.6% a year earlier, unemployment into a zone a 0.3% increase in GDP in for announced job losses although the gap between representing almost 25 million that would have seemed the June quarter, but the 05 european unimaginable five years picture is muted, with the labour marketeu labour job gains and job losses people out of work, about outlook was somewhat better two million more than a year ago before the onset of OECD predicting the region’s 06 majormarket than in recent quarters. ago. Within the eurozone, the the global financial crisis. powerhouse economy will slip into recession in the job layoffs announced in europetrends There was a total of 335 cases unemployment has edged even higher to 11.3%. Unfortunately, the picture in second half of 2012. 07 major job creations of announced job restructuring most of the leading economies announced seems to be deteriorating France recorded its third in europe in the three-month period, of The lowest unemployment about this which 193 involved job losses with weakness expected to successive quarter of zero report rates are in Austria (4.5%), and 137 involved job creation. last throughout the remainder growth, with its central bank Netherlands (5.3%) and of 2012 and into 2013. The predicting a mild contraction According to the European Germany and Luxembourg eurozone bloc contracted by in the third quarter. The UK Monitoring Centre on Change, (both 5.5%). The highest 0.2% in the second quarter. has suffered three quarters this resulted in a total of rates are in Spain (25.1%) of negative growth and 72,793 job losses, compared and Greece (23.1%). is firmly in recession. with 47,454 job gains, for a Elsewhere, the UK has 8% net loss of 25,339 positions. unemployment, France has 10.3% and Italy has 10.7%.