Press Release: Job losses outnumber job creations by almost three to one

The European Restructuring Monitor (ERM) for the 1st quarter 2009 recorded a total of 721 cases of restructuring in the European Union between 1 January 2009 and 31 March 2009, involving some 220,000 announced job losses and 90,000 announced job gains. The sectors most affected by job loss were financial intermediation, auto manufacture and the retail trade. However, in terms of job creation, retail, and hotels and restaurants figured very strongly, in particular discount stores and fast food outlets.

• Primary Source

European Foundation for the Improvement of Living and Working Conditions: EMCC: European Restructuring Monitor http://www.eurofound.europa.eu/emcc/erm/index.htm

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