Over half a million Europeans could lose their jobs due to soaring energy prices.
According to Oxu.Az, "Politico" reports this based on an economic and political report prepared by the European Commission (EC) for EU countries.
The report notes that the rise in energy prices amid the US-Iran conflict will put up to 560,000 jobs at risk by 2026. The construction, metallurgy, chemical industry, and transport sectors are expected to suffer the most.
The automotive industry is also under severe strain. Due to the abandonment of internal combustion engines and fierce competition from China, 600,000 jobs in this sector are at risk of closure.
According to Politico, layoffs will not spare the alternative energy sector either. In the near future, 85,000 jobs in battery production and about 59,000 in solar panel manufacturing could be cut.
