Estimating labour market slack in the European Union

: 23 (or 50 ?) million of persons ( Europe)

There were close to 23 million unemployed people of working age in the EU in 2015 but around 50 million people in a broader category of labour slack, encompassing inactive people wishing to work and underemployed, involuntary part-timers as well as the unemployed, according to a new report from Eurofound, the Dublin-based EU Agency. Beyond the only unemployment rate, the aim of this report is to develop a more nuanced estimate of labour slack, taking account of the four-fifths of the jobless population who are inactive rather than unemployed. The authors calculate that there were around 50 million people in the broad category of labour slack in 2015