Winter economic forecast: unemployment set to fall at snail’s pace
The European Commission’s winter 2016 economic forecast predicts moderate growth and unemployment to fall at snail’s pace.
European Commissioner Moscovici acknowledged that more work is needed to increase investment, and called for richer member states to increase public investment.
“Richer countries must invest more to drive growth and create jobs,” said Veronica Nilsson, Deputy General Secretary of the European Trade Union Confederation. “We are with Commissioner Moscovici on that one.
“The Commissioner said nothing about much-needed wage increases, or the increase in low-paid, insecure work, despite his expectation that private consumption would be the main driver of growth next year.
“Moderate growth is obviously better than no growth, but it is deeply disappointing and worrying that unemployment is expected to fall only at snail’s pace.“