[Excerpt] The 2016 European Restructuring Monitor (ERM) report provides evidence of the employment impact of recent restructuring activity in Europe, based on the European Union Labour Force Survey (EU-LFS) and the ERM events database.
Employment growth in the EU28 has been accelerating since 2013, and 3.5 million net new jobs were added in the 12 months to the first quarter of 2016. This rate of employment growth (1.6% per annum) has not been seen since 2007–2008. In line with the EU-LFS data, the ERM now shows for the first time since 2008 that announced job creation was greater than announced job destruction. The report provides details on sectors creating and losing jobs, with some focus on the retail trade, the eastward shift of motor vehicle manufacture in Europe, and the employment impact of mergers in financial services.
The thematic focus of this year’s report is on recent trends in both the offshoring and the reshoring activity of companies in Europe.