Euro zone: The increasing number of transitions

In the coming years, euro-zone countries will simultaneously go through: A demographic transition caused by ageing that will slow down growth sharply, create a public finance and income distribution problem , and change the structure of demand; A transition to a service economy that will worsen the labour market polarisation, reduce productivity and increase inequality; An energy transition that will eliminate companies and jobs related to fossil energies, which will lead to a rise in energy prices. This accumulation of transitions may: Lead to a marked slowdown in growth and employees’ purchasing power; Speed up the disappearance of intermediate jobs (manufacturing jobs in particular); Create a massive need for job transformation and re-skilling.