Carrying out reform of labor markets in Europe could help to push down joblessness, increase national finances and boost economic growth.

This is the claim made in a new report by BusinessEurope, which has outlined 12 ways in which changes could be made to current regulations to enhance competitiveness, including flexicurity, Euractiv reports.

According to the confederation of companies in the region, such reforms could assist in a European Union goal to increase employment to 75 per cent and the report points to low levels of joblessness in Austria and Sweden as evidence of labor market improvements working.

Philippe de Buck, director-general of BusinessEurope, told reporters that flexicurity is an important element of successful labor markets, adding: "We are against the uniformization of labor contracts."

Policy advisor to the European Confederation of Private Employment Agencies Michael Freytag recently explained to a conference in Vienna that the agency work industry is a key driver of economic growth and provides secure, flexible work opportunities.

Posted by Alex Donnell