Globalization Adjustment Fund: Helping redundant workers find work again

| September 15, 2014 | 0 Comments
photo_bannerTens of thousands of workers were helped to retrain, look for a new job or launch a new company in 207-2013 if they had been laid off as a result of globalization or the economic crisis thanks to €400 million in EU funding. This aid came from the EU’s Globalization Adjustment Fund (EGF). On 11 September the European Parliament’s budget committee approved another aid package for workers in Greece, the Netherlands, Romania and Spain. Find out more about the fund in the European Parliament’s chart.
Since 2007 the fund has received more than 100 applications from 20 EU countries asking for it to co-finance support programmes for more than 100,000 workers who lost their jobs due to globalization (56%) or as a result of the global economic and financial crisis (44%).Many requests concerned redundancies in car manufacturing (22.5%), machinery and equipment (13.5%), textile, wearing apparel and shoe manufacture (12%), computers, mobile phones and ICT (11.6%) as well construction (9.6%).

The budget committee’s approval of aid to redundant workers in Spain, Netherlands, Romania and Greece will be put to a plenary vote on Wednesday 17 September.

About the chart

The size of a bubble in the chart represents the amount of aid requested by a country, while the position of it shows how many redundant workers have already received or would receive the support (vertical axis) and the number of applications for this support by each country (horizontal axis). In addition, the shade of colour of a bubble depicts the unemployment rate: the darker the colour, the higher the unemployment rate.

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Category: A Frontpage, European Commission, European Globalization Adjustment Fund, European Parliament, Politics