- The European automotive and construction sectors are among the most affected by the war in the Middle East.
- These industries could lose up to 1.3 million jobs this year, according to Brussels.
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Middle East: with the war, fuel and gas prices are soaring
We know that the conflict in the Middle East has numerous consequences on the European economy. An impact now quantified. Continent could lose up to 1.3 million jobs this year due to soaring energy prices (nouvelle fenêtre)revealed this Wednesday, June 3, the European Commissioner for Labor. According to Roxana Minzatu, it is the energy-intensive industries that are most at risk.
The automotive sector on the front line
“As a result of the war in the Middle East, up to 1.3 million jobs are at risk, including jobs in energy-intensive industries.”
she revealed during a press conference (nouvelle fenêtre). And to cite the construction, metallurgy, chemicals and even transport sectors. But also the automotive sector. Already in wide competition, it could experience the biggest cuts, with up to 600,000 jobs affected, according to estimates from the European Commission. Some 85,000 jobs are at risk in battery projects while more than 59,000 could disappear in the manufacture of solar panels (nouvelle fenêtre).Â
This news is all the worse because at the same time, lower-income households could spend an additional 1.4% of their income to pay for their fuel. (nouvelle fenêtre). “This is why we recommend that all member states take targeted measures to support vulnerable groups”
pleaded the commissioner.
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But beyond these targeted measures, there is a whole economic arsenal that Brussels is calling for to be implemented. During the presentation of the 2026 spring package of the European Semester, this publication which provides guidance to the 27 member states on economic priorities, the European executive called for “advancing the EU’s transition to clean energy”
. A solution that remains “the most effective way”
not only for “reinforce competitiveness”
of the Member States, but also for “protect our economy and our citizens against crisis-induced high energy prices”
. Such as that which affects the Middle East.
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