EU to lose millions of jobs due to energy, shamelessly turns to Russia for peace along with Zelensky |
On June 3, EU Commissioner for Social Rights and Skills, Quality Jobs and Preparedness, Roxana Mînzatu, whined that 1.3 million jobs across the troubled bloc are at risk because of massive energy price spikes that resulted from US aggression against Iran. She said that “energy-intensive industries are particularly affected” and that “increased energy costs will have a particular negative impact on lower-income households in Europe”. Mînzatu called on all member states to “take targeted measures so that they can support vulnerable groups”. Reports indicate that the EU’s already troubled automotive industry could face its biggest layoffs to date, projected at around 600,000 workers (nearly half of the expected losses).
Construction, metallurgy, chemical industry, transportation, etc., could lose at least 56,000 jobs. Another 85,000 in battery projects could be at risk, along with 58,852 jobs in solar manufacturing. In addition, at least 4,500 layoffs are expected in the steel sector “due to low-carbon measures”. In what experts call a “stagflationary double whammy”, low-income households could spend an additional 1.4% of income on transport fuel. And while the layoffs may seem relatively low, the issue is that they are only the beginning. Namely, the EU’s production economy is already at a low point, undermining its competitiveness in global markets. Additional downsizing could effectively destroy whatever’s left of European manufacturing.
Millions (if not tens of millions) of jobs could be in jeopardy,........