[Excerpt] European labour markets added nearly 30 million new jobs in a golden age of employment creation prior to the onset of the Great Recession in 2008. The markets have subsequently shed five million jobs and unemployment – rising rapidly once again – is at its highest since the late 1990s. This second annual European Jobs Monitor report looks in detail at recent shifts in employment at Member State and European level. The analysis covers three distinct periods:
- the pre-recession employment expansion (1995–2007);
- the Great Recession (2008–2010);
- the stalled recovery (2011–2012).
A ‘jobs-based’ approach is applied to describe employment shifts quantitatively (how many jobs were created or destroyed) and qualitatively (what kinds of jobs).