EU Labour Market Slack Overview 2024: Trends, Disparities, And Prospects

by THEFUTURE.TEAM

October 23, 2025

Overview Of Labour Market Dynamics

Recent data from Eurostat indicates that labour market slack in the European Union reached 11.7% of the extended labour force in 2024. This figure represents 26.7 million individuals aged 15 to 74 who are either unemployed, underemployed, or otherwise not fully engaged in the workforce.

Understanding The Composition

The comprehensive measure delineated by Eurostat encompasses not only the unemployed but also includes those who are underemployed, individuals who are actively seeking work despite not being immediately available, and those who are ready for employment but are not currently pursuing job opportunities.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

Country-Specific Variations

The data highlights significant differences across the EU. For instance, Cyprus recorded a notably lower slack of 8.8% in 2024, well below the EU average. In contrast, Spain reported the highest level at 19.3%, followed by Finland at 17.9% and Sweden at 17.8%. On the other end of the spectrum, Poland (5.0%), Malta (5.1%), Slovenia (6.3%), and Hungary (6.3%) are among the nations with the least slack.

Dissecting The Data Further

A closer look shows that unemployed individuals constitute the largest segment within the slack, accounting for 5.7% of the labour force. Complementing this are 2.7% of individuals who are available for work but not actively seeking employment, 2.4% representing underemployed part-time workers, and 0.9% for those actively pursuing work yet not immediately available to start.

Divergent National Patterns

Country-specific trends reveal unique patterns. In 23 EU countries, the majority of slack stems from unemployment, with Spain leading at 10.9%, followed by Greece at 9.9% and both Finland and Sweden at 7.9%. Conversely, Ireland and the Netherlands have a larger component of slack due to underemployment among part-time workers, contributing 4.4% and 4.9% respectively. Furthermore, Czechia shows a prominence of workers seeking but not immediately available for employment at 3.1%, while in Italy, the highest proportion arises from those available for work yet not actively seeking employment, standing at 7.3%.

Conclusion

The fluctuating patterns in labour market slack across the EU underline the complex interplay of economic factors influencing employment. As the region continues to address these challenges, differentiated strategies tailored to each nation’s unique labour market landscape will be essential for maximizing workforce potential.

The Future Forbes Realty Global Properties

Cyprus Banks Urged To Focus On Long-Term Resilience As Profits Remain Strong

by THEFUTURE.TEAM

June 26, 2026

The Cypriot banking sector remains in a strong position, supported by solid capital buffers and overall financial stability, according to speakers at the annual general meeting of the Association of Cyprus Banks. At the same time, government officials and regulators stressed that maintaining this position will require continued discipline and long-term planning.

A Strong Sector, But Not A Complacent One

Finance Minister Makis Keravnos used the meeting to highlight concerns over draft laws recently passed by parliament, which, according to the Ministry of Finance, the Central Bank and the Legal Service, may contain constitutional, legal and institutional issues. Those concerns, he noted, led to presidential referrals and remittals to the Supreme Court.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

Keravnos also said the European Central Bank had been consulted on proposed measures concerning the suspension of foreclosures and the restructuring of loans and guarantees, adding that the ECB had expressed its own concerns.

Profitability Should Reflect Real Economy Lending

While acknowledging that the banking sector remains highly profitable, Keravnos said earnings are expected to reach around €1 billion in 2025, lower than in 2024 as interest-rate conditions gradually normalize.

He said he would prefer bank profitability to rely more on lending to businesses operating in productive sectors and less on the widening of European Central Bank interest-rate spreads.

According to the minister, Cyprus’ return to investment-grade status after 11 years has strengthened the country’s appeal to foreign investors, technology companies and startups. He said this should encourage banks to offer financing that better supports businesses while improving the diversification of their loan portfolios.

The Central Bank’s Warning: Strength Today Is Not A Guarantee Tomorrow

Central Bank Governor Christodoulos Patsalides also warned against complacency, saying the sector’s current strength should not be taken for granted.

“The Cypriot banking sector is strong today. But strength that truly matters is not exhausted by a capital ratio, a profit line or a favorable cycle,” he said.

Patsalides added that lasting resilience depends on institutions remaining strong as conditions change, risks become more complex, and competition evolves. In his view, that requires sufficient capital buffers, adaptable infrastructure and management teams prepared for changing market conditions.

Long-Term Resilience Over Short-Term Gains

Patsalides also stressed that banks should focus on long-term resilience rather than short-term performance. Decisions on dividend policy, capital allocation and the use of resources, he said, should take into account continued investment in technology, operational resilience, human capital and long-term adaptability.

He added that banks able to remain competitive over time will be those that invest early in strengthening their capacity to adapt and respond to future challenges.

Breaking news