ERM Quarterly - Quarter 2, July 2015

In a context of globally slow growth since the financial crisis, the EU and in particular the euro zone economies have underperformed relative to other major developed-world economies. Output in the euro zone remained lower in the first quarter of 2015 than seven years earlier, and three million fewer people are working in the EU. The post-crisis output gap between the EU and the US now amounts to around eight percentage points.

This issue includes: Macroeconomic trends and prospects; Job creation and job loss at a glance (01/04/15 - 30/06/15); Sectoral distribution of job losses/job gains, and top five cases; Restructuring support measure in focus: Support for restructuring in Luxembourg; Case in focus: Areva to shed at least 3,000 jobs in France; Case in focus: HSBC announces major job cuts worldwide; Sector in focus: The oil industry.

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