Budapest Post

Cum Deo pro Patria et Libertate
Budapest, Europe and world news

Job retention schemes are keeping millions in work, what happens once they end?

Job retention schemes are keeping millions in work, what happens once they end?

With the pandemic, lockdowns, climate change and the digital transition, employment in Europe has rarely been so precarious. Job retention schemes are keeping millions in work, but what happens once they end?

In this episode of Real Economy we ask what happens when job retention schemes come to an end in Europe? Job retention schemes have kept millions of people in work during the pandemic and lockdowns. As these emergency measures are gradually phased out, how does Europe ensure there are enough jobs and that people have the right skills for the jobs of the future?



The European Union’s goal emerging from the Pandemic is a ‘strong social Europe’. Its Pillar of Social Rights Action Plan sets out three targets to be achieved by 2030.

At least 78% of adults should be in employment and another 60% should participate in training every year. Also, the number of people at risk of poverty or social exclusion should be reduced by at least 15 million.



European Commissioner for Jobs and Social Rights, Nicolas Schmit, says that companies play a key role in training. "It's up to the companies to retrain, to reskill, to upskill a lot of their staff.

He adds that companies must "reskill those with the lowest level of skill because their jobs are also changing. There is now this idea that 90% of all jobs have some kind of digital component. If you are working in construction, for instance, you have to have some competencies in digital, how to manage when you are in the building area."

Euronews journalist, Naomi Lloyd talking to European Commissioner for Jobs and Social Rights, Nicolas Schmit

Schmit underlined that "the Commission wants to support these strategies at the level of the companies, at the level of regions together with public employment services"

The financial aid behind training and transitioning


The European Commission’s EASE (Providing Effective Active Support to Employment) recommends that countries create new jobs by supporting entrepreneurs and training people in new skills to get jobs in growing sectors such as green and digital.

To help finance this, there is money available from the Recovery Fund and the European Social Fund Plus.

"This is part of the withdrawal of the furlough schemes" says Schmit, adding "we need a new kind or very active labour market policy, and that's the sense of EASE. And we need it for these new transitions, which is also the green transition and the digital one.'

The Pin Project


In Italy's Puglia region, two young entrepreneurs with innovative ideas have been given the chance to start a business with the help of the PIN project which is co-financed by the European Social Fund.

State-of-the-art prosthetic hand


Giovanni is a mechanical engineer. He is just about to launch Adam’s Hand, a mobile bionic hand with an integrated AI system. He received 30 000€ and business support to create this high-tech start-up. He tells us that "the PIN project was fundamental" to his business because it allowed him to obtain the initial funds to purchase his first machines. It's what helped him create the first Adam’s Hand prototypes.

BionIT Labs' Adam's Hand


As well as financial and infrastructural support, the PIN project helped him bring back some qualified workers to the south. That, he says, is "a great source of satisfaction" to him and the team.

Nicolas Schmit believes that giving companies the opportunity to take on new employees, like Giovanni did, is also part of EASE's role when furlough schemes eventually come to an end. According to Schmit, it will help people "to take advantage of the transitions, to support them by skilling, but also in a way, by giving hiring subsidies, if needed, to encourage new companies or other companies just to hire people".

For now, Giovanni employs 20 people and has to keep ahead in a very competitive environment. His sights are also set on the international market which means it may grow in the near future and create further employment.

Eco-packaging


A fairer and more accessible labour market is one of the goals of the European Pillar of Social Rights, which also supports the green transition. This transition and the green sector, in general, are full of opportunities for Laura and her business partners. The three freelance architects returned to their Italian region to bring together agriculture and design.

The PIN project helped them create a company that designs ecological and reusable packaging. They were given help with management skills and the latest ways of working. Laura tells us that it's thanks to the PIN project and thanks to the new tools that it has allowed them to develop, they have been able to immediately talk to customers. This has helped them achieve many goals.

Laura and Business partner working on their eco-packaging


Today they have clients all over Italy.

With a total budget of around 17 million euros, the PIN project has funded more than 500 innovative projects like Giovanni’s and Laura's.

Training for a new era


Every year, the European Social Fund supports 10 million people like Giovanni and Laura.

According to economist Andrea Garnero, upskilling is key to this support. He says that "the kind of skills that will be required from workers and companies will change". They will need to rely more on technologies as working from home becomes more common. "Member states have played a key role in accompanying companies and workers in these transitions, and they need training, reskilling opportunities", he adds.

Andrea Garnero


The EU Social Summit


Europe’s commitment to Social Rights are at the forefront right now with the Social Summit being held in Porto in Portugal starting on the 7th of May. The two-day event will bring together EU leaders, institutions and social partners to discuss some of Europe's biggest challenges, like climate change and the digital transition. These two challenges in turn also affect business opportunities, job creations and training.


Nicolas Schmit says that the summit is coming at a time when "people are anxious, people fear that there will be cuts, there will be a big restructuring". According to him, the summit in itself is a message that the crisis will "not be a crisis of cuts in the social services and the social infrastructures". "We need economic development, but at the same time, we also need social dimensions and cohesion in our societies".

As job retention schemes come to an end, the hope is that Europe with its social initiatives and support will step up to the challenge and keep people in work.

AI Disclaimer: An advanced artificial intelligence (AI) system generated the content of this page on its own. This innovative technology conducts extensive research from a variety of reliable sources, performs rigorous fact-checking and verification, cleans up and balances biased or manipulated content, and presents a minimal factual summary that is just enough yet essential for you to function as an informed and educated citizen. Please keep in mind, however, that this system is an evolving technology, and as a result, the article may contain accidental inaccuracies or errors. We urge you to help us improve our site by reporting any inaccuracies you find using the "Contact Us" link at the bottom of this page. Your helpful feedback helps us improve our system and deliver more precise content. When you find an article of interest here, please look for the full and extensive coverage of this topic in traditional news sources, as they are written by professional journalists that we try to support, not replace. We appreciate your understanding and assistance.
Newsletter

Related Articles

0:00
0:00
Close
Emails Leaked: How Passenger Luggage Became a Side Income for Airport Workers
Polish MEP: “Dear Leftists - China is laughing at you, Russia is laughing, India is laughing”
Western Europe Records Hottest June on Record
BRICS Expands Membership with Indonesia and Ten New Partner Countries
Elon Musk Founds a Party Following a Poll on X: "You Wanted It – You Got It!"
China’s Central Bank Consults European Peers on Low-Rate Strategies
France Requests Airlines to Cut Flights at Paris Airports Amid Planned Air Traffic Controller Strike
Poland Implements Border Checks Amid Growing Migration Tensions
Emirates Airline Expands Market Share with New $20 Million Campaign
Amazon Reaches Milestone with Deployment of One Millionth Robot
Yulia Putintseva Calls for Spectator Ejection at Wimbledon Over Safety Concerns
House Oversight Committee Subpoenas Former Jill Biden Aide Amid Investigation into Alleged Concealment of President Biden's Cognitive Health
Amazon Reaches Major Automation Milestone with Over One Million Robots
Extreme Heat Wave Sweeps Across Europe, Hitting Record Temperatures
Meta Announces Formation of Ambitious AI Unit, Meta Superintelligence Labs
Robots Compete in Football Tournament in China Amid Injuries
China Unveils Miniature Insect-Like Surveillance Drone
Marc Marquez Claims Victory at Dutch Grand Prix Amidst Family Misfortune
Germany Votes to Suspend Family Reunification for Asylum Seekers
Budapest Pride Parade Draws 200,000 Participants Amid Government Ban
Southern Europe Experiences Extreme Heat
Xiaomi's YU7 SUV Launch Garners Record Pre-Orders Amid Market Challenges
Jeff Bezos and Lauren Sanchez's Lavish Wedding in Venice
Russia Launches Largest Air Assault on Ukraine Since Invasion
Massive Anti-Government Protests Erupt in Belgrade
Iran Executes Alleged Israeli Spies and Arrests Hundreds Amid Post-War Crackdown
Hungary's Prime Minister Criticizes NATO's Role in Ukraine
EU TO HUNGARY: LET THEM PRIDE OR PREP FOR SHADE. ORBÁN TO EU: STAY IN YOUR LANE AND FIX YOUR OWN MESS.
Hungarian Scientist to Conduct 30 Research Experiments on the International Space Station
NATO Members Agree to 5% Defense Spending Target by 2035
NATO Leaders Endorse Plan for Increased Defence Spending
U.S. Crude Oil Prices Drop Below $65 Amid Market Volatility
International Astronaut Team Launched to Space Station
Macron and Merz: Europe must arm itself in an unstable world
Germany and Italy Under Pressure to Repatriate $245bn of Gold from US Vaults
Iran Intensifies Crackdown on Alleged Mossad Operatives After Sabotage Claims
Trump Praises Iran’s ‘Very Weak’ Response After U.S. Strikes and Presses Israel to Pursue Peace
Oil Prices Set to Surge After US Strikes Iran
BA and Singapore Airlines Cancel Dubai Flights Amid Middle East Tensions
Trump Faces Backlash from MAGA Base Over Iran Strikes
Meta Bets $14 B on Alexandr Wang to Drive AI Ambitions
FedEx Founder Fred Smith, ‘Heart and Soul’ of the Company, Dies at 80
Chinese Factories Shift Away from U.S. Amid Trump‑Era Tariffs
Pimco Seizes Opportunity in Japan’s Dislocated Bond Market
Labubu Doll Drives Pop Mart to Status as China’s Most Valuable Toy Maker
Global Coal Demand Defies Paris Accord Goals
United States Conducts Precision Strikes on Iran’s Nuclear Sites
US strikes Iran nuclear sites, Trump says
Telegram Founder: I Will Leave My Fortune to Over 100 of My Children
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
×