EU could lose 1.3 million jobs due to energy price surge linked to Iran war, Commission says

European automotive, construction, metals, chemicals and transport sectors could lose up to 1.3 million jobs this year as a result of a surge in energy prices caused by the US-Iran conflict, Labour Commissioner Roxana Minzatu said on Wednesday."Due to the war in the Middle East, up to 1.3 million jobs are at risk and we are talking about jobs in energy-intensive industry, particularly," Minzatu told a news conference.

• The EU automotive sector could face the biggest layoffs of up to 600,000, the European Commission estimated.
• 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.
• Low-income households could spend an additional 1.4 percent of income on transport fuel.
• The EU manufacturing sector employs around 30 million people, while services provide almost 87 million jobs.

Reuters

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