The European Globalisation Adjustment Fund (EGF) is a flagship demonstration of European solidarity, according to a report published by the European Commission on October 31.
The fund has helped close to 19,500 workers to adjust to changing trade patterns and consequences of the economic and financial crisis in that period.
“Today’s results demonstrate the added value of the Globalisation Adjustment Fund in helping redundant workers who have difficulties to find a new job,” said European Commissioner for Employment, Social Affairs, Skills and Labour Mobility Marianne Thyssen. “The assistance worth €70m of the Fund has paid off.”
According to Thyssen, in 2015 and 2016, 9,072 assisted workers were re-employed, despite the challenging labour market situation.
“This year’s 10th anniversary of the Globalisation Adjustment Fund marks it as a proof of European solidarity to workers falling victim to mass lay-offs caused by globalisation or the crisis.”
The 9,072 workers, or close to half of the workers who participated in the Globalisation Adjustment Fund measures, had found new jobs or were self-employed after one year, at the end of the implementation period of the measures. An additional 645 people were at that time in education or training to increase their future employability.
According to the European Commission, member states also reported that the personal situation, employability and self-confidence of the workers concerned had visibly improved thanks to the fund’s assistance and services. This was even the case for those who had not found new work immediately after the end of the measures.
Founded in 2007, the fund has received 147 applications. Some €600m has been requested to help about 137,600 workers and 2,944 young people not in employment, education or training.