The EU’s social policy can and should support its competitiveness

16 October 2024 - Today, BusinessEurope has published its priorities for the EU’s social dimension over the next five years. This paper was presented to the European Commission President Ursula Von der Leyen, Executive Vice-President Valdis Dombrovskis, and European Commissioner for Jobs and Social Rights Nicolas Schmit at a high-level meeting with the European Social Partners.

Commenting on the publication, BusinessEurope President Fredrik Persson said: “A strong economy is essential for safeguarding our European way of life. Well-designed employment and social policies can enhance Europe’s competitiveness and productivity. The European business community has outlined five key priorities for EU social policy that will help to reverse the decline in its global competitiveness. EU actions are required to facilitate labour mobility and complete the Single Market.

Expanding labour market participation, equipping workers with future-proofed skills and attracting skilled workers from third countries is equally important. European companies are facing acute labour and skills shortages that are undermining their competitiveness and therefore Europe’s future growth and employment.”

Key Data Points

• Only 3.8% of the EU’s working-age population moved within the EU in 2023.
• The EU vacancy rate has been growing since 2013 and is now stagnating at a high rate: 2.6% of jobs in the EU were vacant in the first quarter of 2024.
• Only three EU Member States feature in the top 10 of the OECD’s most attractive destinations for highly educated workers.

Read here BusinessEurope's priorities for the EU's social dimension 2024-2029