The European Union (EU) has declared that combating poverty is a key focus of its strategy to generate new employment opportunities in the region.

In a statement it has highlighted the importance of improving the lives of vulnerable groups of citizens as the 2010 European Year against Poverty and Social Exclusion comes to an end.

EU figures indicate in excess of 80 million people in its member states currently live in poverty, one in four of whom are children.

Pointing to the impact of the downturn on vulnerable groups, the statement claims "sustainable and inclusive growth" is needed in order to tackle social exclusion and increase employment.

EU commissioner for employment, social affairs and inclusion Laszlo Andor remarked: "With millions still living on the margins of society we are wasting our human resources."

Meanwhile, the most recent figures from Eurostat indicate hourly labor costs within the EU increased by 1.2 per cent during the third quarter of 2010 in comparison with the same period of 2009.

Posted by Alex Donnell