10 March 2008 | Jake Kanter
Employment rates in Europe are set to increase following the growth of international outsourcing and global trade, a new report has claimed.
The study by the European Economic Advisory Group (EEAG) found the high levels of international outsourcing and trade associated with globalisation could drive savings, and as a result boost employment.
According to the report's findings, globalisation could be a "blessing for employment in Western Europe rather than a curse". Outsourcing to low-wage economies reduces costs for European organisations and in turn could potentially increase the number of domestic jobs.
It also explained an increase in trade could result in the cost of goods and services being reduced. This might lead to greater demand and more people being employed to meet orders.
The report added it had failed to find the adverse employment effects of globalisation and the results suggested the opposite.