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MNI BRIEF: Ukraine Refugees May Help Ease EU Labour Market-ECB

(MNI) London

The influx of refugees from the war in Ukraine could slightly ease the tightness in the European labour market, the latest ECB Economic Bulletin argues. But barriers to participation mean that only between 25% and 55% for working-age refugees are likely to find medium-term employment, with important implications for euro area countries’ fiscal resources, housing and public service provision.

“Back-of-an-envelope calculations point to a median increase of between 0.2% and 0.8% in the euro area labour force in the medium term This corresponds to an increase of between 0.3 and 1.3 million in the size of the euro area labour force as a result of the Ukrainian refugee crisis,” the report states.

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The influx of refugees from the war in Ukraine could slightly ease the tightness in the European labour market, the latest ECB Economic Bulletin argues. But barriers to participation mean that only between 25% and 55% for working-age refugees are likely to find medium-term employment, with important implications for euro area countries’ fiscal resources, housing and public service provision.

“Back-of-an-envelope calculations point to a median increase of between 0.2% and 0.8% in the euro area labour force in the medium term This corresponds to an increase of between 0.3 and 1.3 million in the size of the euro area labour force as a result of the Ukrainian refugee crisis,” the report states.