European automotive, construction, metals, chemicals and transport sectors could lose up to 1.3 million jobs this year as a result of a surge in energy prices caused by the U.S.-Iran conflict, Labour Commissioner Roxana Minzatu said on Wednesday."Due to the war in the Middle East, up to 1.3 million jobs are at risk and we are talking about jobs in energy-intensive industry, particularly," Minzatu told a news conference.The EU automotive sector could face the biggest layoffs of up to 600,000, the European Commission estimated. Construction, metals, chemicals, transport could lose 56,000 jobs.Also Read: Global smartphone market faces record annual decline as chip crunch worsensSome 85,000 jobs in battery projects could be at risk and 58,852 jobs in solar manufacturing.Another 4,500 jobs could go in the steel sector because of low-carbon measures.Also Read: US sanctions Iran's largest crypto exchange over IRGC linksLow-income households could spend an additional 1.4% of income on transport fuel. The EU manufacturing sector employs around 30 million people, while services provide almost 87 million jobs.
EU could lose 1.3 million jobs due to energy price surge linked to Iran war, Commission says
European industries are bracing for significant job cuts. Up to 1.3 million jobs are at risk across automotive, construction, metals, chemicals, and transport sectors due to Middle East conflict. The automotive industry alone could see 600,000 layoffs. Energy-intensive industries are particularly vulnerable. Low-income households will also face higher transport fuel costs.
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