Renzi’s tinkering with jobs shows a changed mood in Europe

Italian Parliament, Rome, Dec. 29, 2015: Prime Minister Matteo Renzi’s slight relaxation of labor market restrictions has brought modest results so far (source: dpa)
Italian Parliament, Rome, Dec. 29, 2015: Prime Minister Matteo Renzi’s slight relaxation of labor market restrictions has brought modest results so far (source: dpa)

Prime Minister Matteo Renzi promised to turn Italy inside out, jump-start economic growth and reduce unemployment. But during almost two years in office, he has introduced only one significant economic reform, the so-called “Jobs Act.” The outcome has been mixed, and certainly below expectations. This does not mean Mr. Renzi is on the wrong track.

Summary

<i>Two lessons can be drawn from Prime Minister Renzi’s jobs package, which was designed to make hiring young workers cheaper and firing unneeded ones easier. The first is that it will take much more than fine-tuning to shake up Europe’s rigid labor markets and reduce unemployment, especially among the young. Reforms ...

Not a subscriber yet?

Subscribe now and get the latest in-depth geopolitical analysis and forecasts from GIS’s unrivaled cadre of experts.

Learn more about our subscription plans.

You can also buy this report for €8.99 Buy

Add your comment