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In May 2023, unemployment in the EU and the Eurozone stood at 5.9% and 6.5% respectively, a decrease compared to the previous year, with 12.937 million unemployed in the EU and 11.014 million in the Eurozone. However, youth unemployment rose slightly to 13.9% in both regions, with approximately 2.696 million youth unemployed in the EU and 2.226 million in the Eurozone. Meanwhile, 289,000 refugees from Ukraine, beneficiaries of the EU Temporary Protection Scheme, were registered as unemployed in 22 countries.
Generative AI is rapidly gaining popularity in the advertising industry, with 56% of B2C marketers using it and another 40% exploring its potential. According to Forrester, while 7.5% of agency jobs are expected to be lost to automation by 2030, creative roles such as writers and editors are likely to be spared as AI improves productivity in these fields. However, clerical, sales, finance and administrative roles may see a drop in demand.
Forrester’s report highlights the potential impact of AI on advertising jobs, emphasizing the value of creativity and the need for agencies to adapt.
The UK has been struggling with its highest rate of inflation in four decades, raising concerns about the Bank of England’s handling of the situation. While inflation remains stubbornly high, there are fears that aggressive interest rate hikes and a return to austerity will exacerbate economic woes. A more flexible approach is advised, as it is expected that inflation will gradually fall closer to the bank’s target figure by the end of 2024.
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🚨 Caution is urged against an overly aggressive approach to tackling inflation in the UK, as it can have damaging effects on the economy. The focus should be on strengthening the productive capacity.
France is facing a political deadlock over its 29th immigration bill since 1980, which has aimed to appeal to the left and right but has drawn criticism from both sides. The bill seeks to provide a path to legal residency for undocumented workers, make deportation orders easier to enforce, and fast-track the asylum process. However, the left believes that the bill is too restrictive, while the right finds it insufficient, and is stalling its progress.
❗ France’s new immigration law, which streamlines the asylum process and enforces deportation orders, has stalled because neither side of the political spectrum is satisfied. It reflects the controversial history of immigration in the country and coincides with the efforts of the EU on migration reform.
The draft European Union AI law, aimed at introducing strict security and transparency measures for AI technologies, could have significant effects on the labor market and the recruitment sector. The legal framework of the law broadly covers a wide range of applications and would place substantial restrictions on high-risk systems, such as certain software used in recruitment and employment. Any non-compliance with the new requirements could hold individual developers accountable, affecting their relationship with AI companies and the pace of AI innovation.
Recruitment Compass Europe
As Europe grapples with job shortages, businesses and politicians are leaning towards a “skills-first” hiring approach, prioritizing skills over formal education. The study suggests that this approach could increase the hiring pool sixfold, benefiting women, young workers and those without formal degrees. However, concerns are being raised about the impact on benefits schemes traditionally linked to qualifications, leading to recommendations for ‘micro-credentials’ to certify skills.
In this issue of Recruitment Compass Europe, we navigated the intriguing job market of Ireland, a country known for its lush landscapes and rich cultural history. We delved into the diverse labor market, identified the most in-demand jobs and industries and analyzed the cost of living. Ireland’s job market shows a high demand for skills in technology, construction, accounting, and more. The cost of living is relatively high, but the availability of opportunities in various sectors and the country’s high standard of living make it a promising destination for job seekers and recruiters.
As we discuss the ideal working hours for the modern employee, it is important to look back at history for some context. Over the past 150 years, we have seen a dramatic decrease in working hours for the average worker. This reduction was achieved through fewer hours each day ⏰, fewer days each week 📆, and fewer weeks each year 🗓️.
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As we conclude this edition of the newsletter, it is clear that innovation and adaptability are central issues in the current global landscape. Whether it’s 🚀 NASA pushing the boundaries of human invention in space exploration, or the 🌍 European labor market adapting to a ‘Skills-First’ hiring approach, we are witnessing remarkable shifts in how we approach challenges and opportunities.
In a world that is more connected than ever, it is exciting to see how advances in one domain, such as space exploration, can inspire and drive change in seemingly unrelated areas such as the job market. By looking at skills rather than just formal education, we can unlock potentially untapped talent pools and foster greater diversity in the workforce, echoing the limitless opportunities we see in space exploration.
As we move forward, let us carry with us the boundless spirit of curiosity exhibited by the Mars Sample Return Mission and the adaptability and inclusiveness fostered by evolving labor market policies.
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Thank you for being a part of this community. Let’s stay informed and inspired, and remember, the stars are not the limit! 🌟
If you would like to read more content from me, please subscribe to my Medium and follow me on Twitter & .We are CRD Recruitment, a recruitment agency that specializes in recruiting the very best people to join your business. The recruitment process can be very time-consuming and challenging, especially when you need skilled hands to fill specialized positions. We attract and recruit candidates who are the best fit for the business culture and strategy. We carry out our search and recruitment processes for companies in the UK, Europe and the USA.
With more than two decades of experience working in many industries, we know the people not only the job specification necessary to be successful for your business.
CRD Recruitment is dedicated to finding you the most qualified and passionate candidates for your organization. We source both permanent and contract staff from entry level to executive/C-suite. Our recruitment process is handled professionally with human resource experience and an understanding of business ethics. When the need for the right talent arises, we are available to support and assist our clients.
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CRD Recruitment specializes in recruiting all levels of Sales Professionals, I.T. professionals, project management professionals, engineering professionals, healthcare professionals and administrative staff.
We help a wide range of clients and attract a wide range of candidates. We carefully assess client needs and take the time to fully understand your business goals and values. This gives us valuable insight – ensuring we find the right candidate for your role. We are committed to finding and building optimal working relationships between companies and candidates. Contact us to find out more about how we can help you.
With two decades of successful work in senior roles in many industries as well as recruiting and running internal teams to add value and grow businesses, we have gained a wealth of knowledge not only from working in recruitment.
Much of the experience gained was through solution selling, defined as a person or team with a process that is problem-led, rather than product-led, as an approach to determine if and how a specific change or addition to a business could specifically Bring improvements that are desired by the customer.
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This process is the same as we apply to recruit the best people for your business and through this direct experience we know the people requirements behind the job specifics and CV’s necessary to be successful and ultimately grow your business.
We work with clients in the UK, Europe and the US on an ad hoc, partner, PSL and retain basis to suit our client’s requirements, recruiting across the professional vertical in all industries from I.T
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