On Wednesday 29 October the European Commission published the data relating to the countries of the eurozone and more generally to the enlarged Europe on the economic and financial trends for the three-year period 2003/2005. According to the document, for the year in course economic growth remains weak, with an increase of 0.8%. But a recovery is forecast for next year: over 2% for 2004, over 2.5% for 2005. These improvements in EU accounts will be favoured by a general revival of the world economy and by the hoped-for lowering of the price of oil from November 2003. Nonetheless, again according to the figures furnished by the Executive, the growth of the economy will not be accompanied by an equivalent growth in employment. For the first time in ten years, in fact the EU registered a net loss of jobs in 2003: the current unemployment rate of just over 8% in the EU is set to further increase next year, before falling back in 2005. In spite of the forecast improvement in inflation, it is predicted that the enlarged Union will have ever greater difficulties in creating permanent jobs.
