EU Could Lose 1.3 Million Jobs Due To Energy Price Surge From Iran War
Up to 1.3 million jobs across the EU are at risk because of the ongoing war in the Middle East, European Commissioner for jobs Roxana Mînzatu said on Wednesday.
"Due to the war in the Middle East, up to 1.3 million jobs are at risk, particularly in energy-intensive industries," Mînzatu said at a press conference.
"Let me also underline that increased energy costs will have a particular negative impact on lower-income households in Europe, which is why we recommend that all member states take targeted measures so that they can support vulnerable groups," the Commissioner added.
According to the report, the EU automotive sector could face the biggest layoffs of up to 600,000. Construction, metals, chemicals, transport could lose 56,000 jobs. Some 85,000 jobs in battery projects could be at risk and 58,852 jobs in solar manufacturing. Another 4,500 jobs could go in the steel sector because of low-carbon measures.
In a stagflationary double whammy, Low-income households could spend an additional 1.4% of income on transport fuel.
As Euronews reports, the warning came during the presentation of the 2026 Spring Semester Package, a bi-annual ...
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