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Assess the likely costs and benefits of product and labour market reforms for the countries of the European Union.
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Assess the likely costs and benefits of product and labour market reforms for the countries of the European Union The EU has a very different labour market from that of the UK. The UK has a highly flexible labour market where in the last 5 years we have seen initiatives to increase it further by introducing a minimum (to increase employment), the New deal programme aimed at increasing the employability of low skilled people and also such reform as the reduction in trade union power which took place over a decade ago. The EU though has much legislation to prevent this market forming. Therefore, the likely benefit of labour market reforms is that the labour market will become more flexible. This will be for both the consumer and firm. Firms will have more power to remove workers in time of cyclical instability but also now take more workers on in times...
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