Unemployment in Eastern European nations that will join the European Union in May, including Poland, Slovakia and the Czech Republic, may rise from their current near-record levels
Published:
2 November 2003 y., Sunday
Unemployment in Eastern European nations that will join the European Union in May, including Poland, Slovakia and the Czech Republic, may rise from their current near-record levels as companies struggle to compete.
Job cuts ``are crucial to reducing costs and lowering our coal prices so we can compete after joining the EU,'' said Maksymilian Klank, president of Poland's state-owned Kompania Weglowa SA, Europe's largest coal mining company by production, at a Warsaw press conference last week.
The Polish and Slovak second-quarter jobless rates of 20 percent and 17 percent were more than double the EU average of 8 percent, based on figures compiled by Eurostat. The Czech Labor Ministry will probably report today that unemployment was unchanged at 10 percent in September, according to 13 economists surveyed by Bloomberg News.
Voters in the 10 mainly Eastern European countries that are joining the EU were promised that unemployment would fall as companies gain access to new customers and older members open borders to the East. With accession seven months away, governments and many businesses say they expect to trim workforces to survive in an enlarged trading region of 450 million people.
Unemployment has risen in the future EU countries even as growth in the entrants' combined $487 billion economy has outpaced the EU this year.
Average growth in Poland, the Czech Republic, Hungary and Slovakia, the largest of the 10 entrants, totaled an annual 3 percent in the second quarter. By contrast, France and Germany, two of the three largest EU countries, fell into recession.
Šaltinis:
Bloomberg
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
The twentieth anniversary of the Baltic Way was commemorated in Tokyo.
more »
After an emotional funeral service in Boston and a 90-minute flight from Massachusetts, the flag-draped casket holding Edward Kennedy arrived by motorcade in Washington, D.C. for a final visit to the U.S. Capitol Building, the political home for the senior Senator of Massachusetts for almost half a century.
more »
Mike Perham has become the youngest person to sail single handedly round the world. It's also the dream of another teenager in the Netherlands.
more »
Whenever its member countries are hit by natural disasters, the EU steps in to help coordinate assistance and fund the reconstruction of essential infrastructure.
more »
Inside this tiny house in central Cuba a woman rekindles old fashioned romance in a modern age. Liudmila Quincose writes love letters for a living.
more »
A traditional drum beat opens the 2009 World Karate Championships in Japan.
more »
Scientists are investigating the death of about 300 sea lions on the coast of Chile.
more »
Carmen Valverde and her dog Tomas were out for a walk in their Lima, Peru neighborhood when Tomas was snatched from her side.
more »
It was never going to be a quiet affair when Lance Armstrong put out an invitation on twitter for fans to join him on a bike ride around a Scottish town.
more »
About half of the British public feel there is a general negative bias in reporting on EU affairs on television, radio and in the written press, with written press reports seen as the most negative, according to a public opinion poll published by the European Commission today.
more »