Macroeconomic dialogue with the social partners on 4 November 2024 - Consilium

Macroeconomic dialogue with the social partners on 4 November 2024 - Consilium

 

(...) Europe’s role in the global economy has significantly declined in recent decades, as the competitiveness gap keeps widening vis-à-vis leading global competitors. Discussions are rightly frequent about focusing policy intervention on key areas, such as ensuring the growth of real income, increasing productivity and investment levels and to properly leverage opportunities provided by the digital revolution. The rapid aging of European societies, declining birth rates, burdening social welfare systems, and growing labour shortages are persistent and escalating challenges across Europe that demand urgent and effective solutions, especially related to supporting families and households raising children. Therefore, realigning the unfavourable demographic trends should also be given more consideration from a competitiveness perspective. (...)