Saturday, July 25, 2009

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A third of Europeans fear job loss: Survey

A third of European workers are "very concerned" that they could lose their jobs as the economy experiences the worst recession since the Second World War, according to a European Commission survey published today.

Some 32 per cent of people with jobs said they feared losing work. More were worried about their partner and nearly half feared that their children would lose their jobs.

European unemployment rates are running at record levels and economists believe many more jobs will yet disappear as companies cut costs to adjust to lower demand and weaker exports.

The EU executive forecasts that some 8.5 million jobs will go this year and next year.

Younger workers are suffering more with unemployment running at nearly one in five.

EU spokeswoman Katharina von Schnurbein said many Europeans believe the worst of the recession is still to come. Only 28 per cent think the downturn has already peaked.

"People in labour markets that are harder hit are slightly more realistic or less optimistic," she said.

Spaniards were most worried about losing their job or about relatives losing theirs.

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