London Daily

Focus on the big picture.
Monday, Jul 21, 2025

Job retention schemes are keeping millions in work, what happens once they end?

Job retention schemes are keeping millions in work, what happens once they end?

With the pandemic, lockdowns, climate change and the digital transition, employment in Europe has rarely been so precarious. Job retention schemes are keeping millions in work, but what happens once they end?

In this episode of Real Economy we ask what happens when job retention schemes come to an end in Europe? Job retention schemes have kept millions of people in work during the pandemic and lockdowns. As these emergency measures are gradually phased out, how does Europe ensure there are enough jobs and that people have the right skills for the jobs of the future?



The European Union’s goal emerging from the Pandemic is a ‘strong social Europe’. Its Pillar of Social Rights Action Plan sets out three targets to be achieved by 2030.

At least 78% of adults should be in employment and another 60% should participate in training every year. Also, the number of people at risk of poverty or social exclusion should be reduced by at least 15 million.



European Commissioner for Jobs and Social Rights, Nicolas Schmit, says that companies play a key role in training. "It's up to the companies to retrain, to reskill, to upskill a lot of their staff.

He adds that companies must "reskill those with the lowest level of skill because their jobs are also changing. There is now this idea that 90% of all jobs have some kind of digital component. If you are working in construction, for instance, you have to have some competencies in digital, how to manage when you are in the building area."

Euronews journalist, Naomi Lloyd talking to European Commissioner for Jobs and Social Rights, Nicolas Schmit

Schmit underlined that "the Commission wants to support these strategies at the level of the companies, at the level of regions together with public employment services"

The financial aid behind training and transitioning


The European Commission’s EASE (Providing Effective Active Support to Employment) recommends that countries create new jobs by supporting entrepreneurs and training people in new skills to get jobs in growing sectors such as green and digital.

To help finance this, there is money available from the Recovery Fund and the European Social Fund Plus.

"This is part of the withdrawal of the furlough schemes" says Schmit, adding "we need a new kind or very active labour market policy, and that's the sense of EASE. And we need it for these new transitions, which is also the green transition and the digital one.'

The Pin Project


In Italy's Puglia region, two young entrepreneurs with innovative ideas have been given the chance to start a business with the help of the PIN project which is co-financed by the European Social Fund.

State-of-the-art prosthetic hand


Giovanni is a mechanical engineer. He is just about to launch Adam’s Hand, a mobile bionic hand with an integrated AI system. He received 30 000€ and business support to create this high-tech start-up. He tells us that "the PIN project was fundamental" to his business because it allowed him to obtain the initial funds to purchase his first machines. It's what helped him create the first Adam’s Hand prototypes.

BionIT Labs' Adam's Hand


As well as financial and infrastructural support, the PIN project helped him bring back some qualified workers to the south. That, he says, is "a great source of satisfaction" to him and the team.

Nicolas Schmit believes that giving companies the opportunity to take on new employees, like Giovanni did, is also part of EASE's role when furlough schemes eventually come to an end. According to Schmit, it will help people "to take advantage of the transitions, to support them by skilling, but also in a way, by giving hiring subsidies, if needed, to encourage new companies or other companies just to hire people".

For now, Giovanni employs 20 people and has to keep ahead in a very competitive environment. His sights are also set on the international market which means it may grow in the near future and create further employment.

Eco-packaging


A fairer and more accessible labour market is one of the goals of the European Pillar of Social Rights, which also supports the green transition. This transition and the green sector, in general, are full of opportunities for Laura and her business partners. The three freelance architects returned to their Italian region to bring together agriculture and design.

The PIN project helped them create a company that designs ecological and reusable packaging. They were given help with management skills and the latest ways of working. Laura tells us that it's thanks to the PIN project and thanks to the new tools that it has allowed them to develop, they have been able to immediately talk to customers. This has helped them achieve many goals.

Laura and Business partner working on their eco-packaging


Today they have clients all over Italy.

With a total budget of around 17 million euros, the PIN project has funded more than 500 innovative projects like Giovanni’s and Laura's.

Training for a new era


Every year, the European Social Fund supports 10 million people like Giovanni and Laura.

According to economist Andrea Garnero, upskilling is key to this support. He says that "the kind of skills that will be required from workers and companies will change". They will need to rely more on technologies as working from home becomes more common. "Member states have played a key role in accompanying companies and workers in these transitions, and they need training, reskilling opportunities", he adds.

Andrea Garnero


The EU Social Summit


Europe’s commitment to Social Rights are at the forefront right now with the Social Summit being held in Porto in Portugal starting on the 7th of May. The two-day event will bring together EU leaders, institutions and social partners to discuss some of Europe's biggest challenges, like climate change and the digital transition. These two challenges in turn also affect business opportunities, job creations and training.


Nicolas Schmit says that the summit is coming at a time when "people are anxious, people fear that there will be cuts, there will be a big restructuring". According to him, the summit in itself is a message that the crisis will "not be a crisis of cuts in the social services and the social infrastructures". "We need economic development, but at the same time, we also need social dimensions and cohesion in our societies".

As job retention schemes come to an end, the hope is that Europe with its social initiatives and support will step up to the challenge and keep people in work.

Newsletter

Related Articles

0:00
0:00
Close
Man Dies After Being Pulled Into MRI Machine Due to Metal Chain in New York Clinic
NVIDIA Achieves $4 Trillion Valuation Amid AI Demand
US Revokes Visas of Brazilian Corrupted Judges Amid Fake Bolsonaro Investigation
U.S. Congress Approves Rescissions Act Cutting Federal Funding for NPR and PBS
North Korea Restricts Foreign Tourist Access to New Seaside Resort
Brazil's Supreme Court Imposes Radical Restrictions on Former President Bolsonaro
Centrist Criticism of von der Leyen Resurfaces as she Survives EU Confidence Vote
Judge Criticizes DOJ Over Secrecy in Dropping Charges Against Gang Leader
Apple Closes $16.5 Billion Tax Dispute With Ireland
Von der Leyen Faces Setback Over €2 Trillion EU Budget Proposal
UK and Germany Collaborate on Global Military Equipment Sales
Trump Plans Over 10% Tariffs on African and Caribbean Nations
Flying Taxi CEO Reclaims Billionaire Status After Stock Surge
Epstein Files Deepen Republican Party Divide
Zuckerberg Faces $8 Billion Privacy Lawsuit From Meta Shareholders
FIFA Pressured to Rethink World Cup Calendar Due to Climate Change
SpaceX Nears $400 Billion Valuation With New Share Sale
Microsoft, US Lab to Use AI for Faster Nuclear Plant Licensing
Trump Walks Back Talk of Firing Fed Chair Jerome Powell
Zelensky Reshuffles Cabinet to Win Support at Home and in Washington
"Can You Hit Moscow?" Trump Asked Zelensky To Make Putin "Feel The Pain"
Irish Tech Worker Detained 100 days by US Authorities for Overstaying Visa
Dimon Warns on Fed Independence as Trump Administration Eyes Powell’s Succession
Church of England Removes 1991 Sexuality Guidelines from Clergy Selection
Superman Franchise Achieves Success with Latest Release
Hungary's Viktor Orban Rejects Agreements on Illegal Migration
Jeff Bezos Considers Purchasing Condé Nast as a Wedding Gift
Ghislaine Maxwell Says She’s Ready to Testify Before Congress on Epstein’s Criminal Empire
Bal des Pompiers: A Celebration of Community and Firefighter Culture in France
FBI Chief Kash Patel Denies Resignation Speculations Amid Epstein List Controversy
Air India Pilot’s Mental Health Records Under Scrutiny
Google Secures Windsurf AI Coding Team in $2.4 Billion Licence Deal
Jamie Dimon Warns Europe Is Losing Global Competitiveness and Flags Market Complacency
South African Police Minister Suspended Amid Organised Crime Allegations
Nvidia CEO Claims Chinese Military Reluctance to Use US AI Technology
Hong Kong Advances Digital Asset Strategy to Address Economic Challenges
Australia Rules Out Pre‑commitment of Troops, Reinforces Defence Posture Amid US‑China Tensions
Martha Wells Says Humanity Still Far from True Artificial Intelligence
Nvidia Becomes World’s First Four‑Trillion‑Dollar Company Amid AI Boom
U.S. Resumes Deportations to Third Countries After Supreme Court Ruling
Excavation Begins at Site of Mass Grave for Children at Former Irish Institution
Iranian President Reportedly Injured During Israeli Strike on Secret Facility
EU Delays Retaliatory Tariffs Amid New U.S. Threats on Imports
Trump Defends Attorney General Pam Bondi Amid Epstein Memo Backlash
Renault Shares Drop as CEO Luca de Meo Announces Departure Amid Reports of Move to Kering
Senior Aides for King Charles and Prince Harry Hold Secret Peace Summit
Anti‑Semitism ‘Normalised’ in Middle‑Class Britain, Says Commission Co‑Chair
King Charles Meets David Beckham at Chelsea Flower Show
If the Department is Really About Justice: Ghislaine Maxwell Should Be Freed Now
NYC Candidate Zohran Mamdani’s ‘Antifada’ Remarks Spark National Debate on Political Language and Economic Policy
×