Global Crisis and the Challenges Labour Markets Face

Abstract

We witness the further development of the global crisis and its consequent effect on labour markets. Some very serious consequences are apparent and they pose considerable challenges for the labour markets in individual countries and regions. As a result of this national governments have undertaken a series of measures to reduce the adverse effect of the crisis. This paper presents the major financial and fiscal package measures, which the countries hit by the crisis, have provided mainly through their national budgets. By using the Beveridge curve and the comparative evaluation by other main indicators we represent the effect the global crisis has had on the EU  labour market. Special attention has been given to the main challenges the Bulgarian labour market faces in the financial crisis.