European labour markets challenges in the context of the “Europe 2020” srategy

Abstract

The article studies the crisis’ effects on the development of the labour markets in Europe and in Bulgaria, in particular. It outlines the strong decrease in labour demand and high unemployment in a considerable part of the member-countries as well as the decrease in households’ income and the standard of living dynamics. The increasing pressure on public finances under crisis conditions encounters their restricted opportunities, additionally limited by the strict fiscal consideration carried out. The active labour market policies, carried out manage partially and temporary to compensate for the negative effects of the crisis. All this gives rise to challenges facing the European Strategy 2020 goals and calls for reviewing the managerial and financial mechanisms, triggering for its achievement.Europe 2020 strategy, European labour market, unemployment, active labour market policy, public expenditures