Argues that employment remains depressed in the majority of Eurozone countries and that a further 4.5 million jobs may be lost. Suggests that addressing the jobs crisis in the Eurozone requires, first, repairing the financial system urgently.

The paper takes a comparative perspective on the labour market impact on G20 and EU countries of the financial and economic crisis that began in 2008. It starts from the observation that the decline in employment and rise in unemployment in relation to output or GDP reductions varies...