Sentiment on EU Job Markets Remain Heavily Bearish

One in two people feel “the worst is still to come” for the job crisis in the European Union (EU), according to a survey released by the European Commission today.

Only 36 per cent of people surveyed thought the job crisis had reached its peak, while 55 per cent saw further turmoil ahead, according to the Eurobarometer, which surveyed 32,694 EU citizens.

Despite the EU’s political and economic problems in the Union, 62 per cent of respondents said they still identified themselves as EU citizens. But less than half of Greeks and Cypriots felt like they were a part of the bloc, as their countries struggle with huge debt burdens and strict austerity programs.

“The economic crisis is intertwined with the political crisis and the public are questioning the legitimacy of the current system. Politics is still national in member states, but in places like Greece, people are turning against the austerity measures being imposed on them from the EU,” Pawel Swidlicki, a research analyst at the Open Europe think tank, said.

“There is a backlash against the bailouts and austerity and this is reflected in the figures today.”


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Mingze Wu

Mingze Wu

Currency Analyst at Market Pulse
Based in Singapore, Mingze Wu focuses on trading strategies and technical and fundamental analysis of major currency pairs. He has extensive trading experience across different asset classes and is well-versed in global market fundamentals. In addition to contributing articles to MarketPulseFX, Mingze centers on forex and macro-economic trends impacting the Asia Pacific region.
Mingze Wu