European cities compete to be top financial centres, with London leading in Europe and second globally in the Global Financial Centres Index. Geneva joins London in the top 10, while Frankfurt overtakes Paris as the EU's financial capital. Germany has five cities in the top 50, the most in Europe. The rankings show a clear divide between Western Europe and Eastern Europe/Central Asia, with all top European financial hubs in the Western group. The US and China also have strong showings. Factors contributing to a city's financial competitiveness include regulatory environment, economic freedom, low corruption, and positive reputation.

The gender pay gap remains significant in Europe, with women earning on average 87.3 euros for every 100 euros earned by men, a gap of 12.7% in the EU in 2022. The gap varies across the EU and EFTA countries, with Estonia having the highest at 21.3%. Luxembourg is the only country with a negative gap, indicating women earn slightly more than men. The European Commission aims to reduce this disparity, which has seen a slow decrease of 3.7 percentage points in the EU from 2012 to 2022. The gap is wider in the private sector, with Czechia and Germany having the largest disparities. Factors contributing to the pay gap include sectoral segregation, salary discrimination, unequal distribution of unpaid work, and the glass ceiling effect. Despite higher education levels, women's employment rates are lower than men's across the EU.

The 2023 Legatum Prosperity Index reveals that two-thirds of the world's most prosperous countries are in Europe, yet the continent experiences significant income inequality. Median disposable income, adjusted for purchasing power standard (PPS), varies widely across Europe, with the highest levels in western and Nordic countries and lower levels in southern and eastern states. In 2022, median disposable income ranged from 9,671 PPS in Bulgaria to 33,214 PPS in Luxembourg, with the EU average at 18,706 PPS. EU candidate countries have the lowest median disposable incomes, with Albania at the bottom. Income inequality appears more pronounced when considering income in euros, with a range from €5,378 in Bulgaria to €45,310 in Luxembourg. Over the past five years, several countries have seen significant increases in median disposable income, with Romania recording the highest rise at 101%, while Turkey's median disposable income fell by 27%.

Alcohol consumption in Europe has been declining since the 2000s, with the EU seeing a 23% decrease from 1980 to 2020. Despite this, the WHO European Region still has the highest per capita alcohol consumption globally. Significant decreases in consumption were observed in countries like Ireland, Lithuania, Spain, and Greece, while increases were noted in Latvia, Bulgaria, Malta, Romania, and Poland. Heavy episodic drinking is more prevalent among men and those with higher education levels. The WHO and OECD highlight that no level of alcohol consumption is safe and that policies to limit consumption are often hampered by poor implementation and limited resources.

Obesity is a growing challenge in Europe, with one in six European citizens considered obese and over half of EU adults overweight. The condition is linked to increased risk of chronic diseases and reduces life expectancy by nearly three years on average in the EU. Recent estimates attribute over 1.2 million deaths annually to overweight and obesity in the WHO's European region. The highest overweight rates are in Croatia and Malta, while the lowest are in Italy and France. Obesity rates have risen in the EU over the past two decades, with social-economic status, gender, age, and education level influencing these rates. The OECD report highlights urbanization, sedentary behaviors, and the availability of high-energy foods as contributing factors, with socially disadvantaged groups being particularly at risk.

Obesity is becoming an increasingly serious problem in Europe, diagnosed in one in six EU residents, with over half of the continent's adults overweight. It poses a public health challenge by increasing the risk of chronic diseases such as hypertension, diabetes, coronary heart disease, and certain cancers. According to the OECD report 'Health at a Glance: Europe 2020', overweight and obesity reduce life expectancy by nearly three years on average in the EU. WHO estimates attribute over 1.2 million deaths annually in the European region to overweight and obesity. The prevalence of obesity has risen over the last two decades, with significant variations across countries, genders, age groups, and education levels. The highest rates of adult overweight are in Croatia and Malta, while the lowest are in Italy and France. The OECD report highlights behavioral and environmental factors driving obesity, such as urbanization, sedentary lifestyles, and the availability of high-calorie foods, with disadvantaged social groups being particularly at risk.

Teacher salaries in Europe have decreased in real terms over the past six years, with strikes for better pay and working conditions ongoing and set to continue into 2024. The average annual gross salaries for lower secondary teachers range from €8,160 in Bosnia and Herzegovina to €71,184 in Germany, with significant disparities across the continent. Salaries adjusted for purchasing power standard (PPS) still show wide gaps, with Germany at the top. In 11 EU countries, teacher salaries exceed the GDP per capita, while in 10 they are lower. Real-term salary decreases have been observed in several countries, with Bulgaria seeing a significant increase. Teacher satisfaction with salaries is low, and the profession is not highly valued by society, leading to regrets about becoming a teacher. The shortage of qualified teachers is a growing concern, exacerbated by factors such as COVID-19 and the integration of Ukrainian children into EU schools.

In 2022, EU households saved approximately 12.7% of their disposable income, a decrease from 2021. Germany had the highest saving rate at 19.9%, while Greece had a negative rate, indicating spending beyond income. Household saving rates varied across Europe, with no strong regional divide, but richer countries generally saved more. The COVID-19 pandemic saw a spike in savings due to restricted consumption opportunities and economic uncertainty. Factors such as income levels, age dependency, government finances, and inflation influence saving rates, with a European Commission paper highlighting persistent differences among EU countries.

In 2022, European Union households saved about 12.7% of their disposable income, a decrease from 2021. The study 'Household Saving Behavior in the Euro Area' by Julia Le Blanc et al. (2016) highlights precautionary saving as the most common reason across Eurozone countries, followed by retirement saving. Eurostat data shows the highest household saving rates in Germany (19.9%) and Switzerland (23.4%, non-EU), with Greece at -4%. The COVID-19 pandemic saw a significant increase in savings rates due to restricted spending opportunities and economic uncertainty, with the EU savings rate reaching 18.5% in 2020 and 16.4% in 2021. The 2022 data suggests a return to pre-pandemic levels. Differences in savings rates across EU countries can be attributed to income levels, age dependency, public finance health, and inflation.

In 2022, households in the European Union saved about 12.7% of their income, a decrease from the previous year. Eurostat's research on household saving behavior in the eurozone indicates that Europeans primarily save for precautionary reasons and retirement. Germany, the Netherlands, Luxembourg, and France lead in savings rates, while Greece and Poland have negative savings rates, indicating spending beyond earnings. The average gross savings per capita in the EU was 2,723 euros, with significant variations among countries. During the COVID-19 pandemic, savings rates increased due to limited consumer spending opportunities and economic uncertainty, but 2022 figures suggest a return to pre-pandemic levels. Income levels, demographic factors, and crisis-related uncertainties explain the differences in savings rates across EU countries.

Food inflation in the Eurozone has remained high despite a slowdown from the peak of 10.6% in October 2022 to 2.9% in October 2023. Real food inflation, which is food inflation minus general inflation, was 4.6% in the Eurozone and 4% in the EU in October 2023, placing significant pressure on low-income households. Inflation rates in the EU soared in 2022 to levels not seen in the previous four decades. Food and non-alcoholic beverage inflation followed a similar trend, peaking at 19.2% in March 2023. The annual real food inflation rate exceeded general inflation in 33 out of 37 European countries in October 2023, with Belgium, the Netherlands, Greece, and Spain experiencing the highest rates. Energy costs, supply reductions of key agricultural inputs like fertilizers and feeds, and disruptions from the war in Ukraine are cited as the main drivers of food inflation. Households in candidate countries for EU membership, such as Albania and Bosnia and Herzegovina, spend a higher percentage of their consumption expenditure on food, making real food inflation particularly impactful for them.

The summer of 2023 was confirmed to be the hottest ever recorded, with an average temperature of 16.77°C, 0.66°C above the seasonal average. Samantha Burgess from the Copernicus Climate Change Service (C3S) expressed concern over the unprecedented ocean heat and the potential impact of the El Niño event. Europe is warming faster than the global average, with temperatures 2.2°C above pre-industrial levels. The Food and Agriculture Organization (FAO) reported significant temperature increases across European countries, with France experiencing the highest land temperature rise in 2022. The United Nations Secretary-General António Guterres warned that the world has entered the 'global boiling era,' and scientists predict that the 1.5°C global warming threshold could be consistently surpassed by the early 2030s.

In 2022, inflation rates in the EU reached levels not seen in the previous four decades, with a peak of 11.5% in October. Despite a subsequent decline, inflation remained at 6.4% in June 2023. The COVID-19 crisis and the Russian invasion of Ukraine significantly impacted prices, leading to a cost of living crisis. Real hourly wages decreased in 22 out of 24 European countries in the first quarter of 2023, with only Belgium and the Netherlands experiencing increases. Hungary experienced the most significant drop at 15.6%. Real wages also fell in the UK, France, and Germany. The OECD report highlighted that low-wage sectors fared relatively better, with Greece as a notable example where real wages in low-paying industries increased by 5.1%.

In 2022, the EU experienced inflation rates not seen in the previous four decades, peaking at 11.5% in October and remaining at 6.4% in June 2023. The COVID-19 pandemic and Russia's invasion of Ukraine significantly impacted prices. Real hourly wages decreased in 22 out of 24 European countries studied in the first quarter of 2023, with Hungary experiencing the most significant drop of 15.6%. Only Belgium and the Netherlands saw real wage growth. The OECD reports that real wages are generally below pre-pandemic levels despite nominal wage increases. Low-paid sectors have fared relatively better, with Greece being an example where real wages in low-paid industries increased by 5.1%.

In 2022, the EU experienced unprecedented inflation rates, peaking at 11.5% in October, with a slight decrease to 6.4% by June 2023. The COVID-19 crisis and Russia's invasion of Ukraine significantly impacted prices, leading to a cost-of-living crisis. Despite nominal wage increases in almost all EU member states, real hourly wages decreased in 22 out of 24 European countries when accounting for inflation. Only Belgium and the Netherlands saw real wage growth. Hungary, Latvia, Czechia, and Sweden experienced the most significant declines. Real wages also fell in the UK, France, and Germany. The OECD report highlighted that since the COVID-19 pandemic, real wages are below pre-pandemic levels in most countries, and low-paying industries have fared relatively better than high-pay industries in terms of real wage changes.

The UK has begun housing asylum seekers on a barge, a practice also seen in Belgium, the Netherlands, France, Estonia, and Scotland, primarily for Ukrainians displaced by the Russian invasion. Ireland is considering similar measures. Asylum applications in the UK have dramatically increased in 2022, with the highest numbers in nearly two decades. Germany, France, Spain, and Austria are the main EU destinations for asylum seekers, with Syrians and Afghans being the largest groups of applicants.

Teachers across Europe have been striking for better pay and working conditions, with significant disparities in salaries across the continent. In England, over 40,000 teachers left the profession last year, and strikes are planned for July. Hungary saw thousands march for higher salaries and reforms, with some teachers fired for walkouts. France, Germany, and other countries face teacher shortages, with Germany expecting a shortfall of 25,000 by 2025. Salaries vary widely, with Luxembourg paying the highest and Bulgaria the lowest among EU countries. The cost of living crisis exacerbates the issue of stagnant wages. The ratio of teacher salaries to minimum wage is highest in Germany and lowest in Poland. Over the last decade, Lithuania saw the largest increase in teacher salaries, while Turkey's decreased. Despite high government expenditure on education in some countries, teacher satisfaction with pay remains low, and pupil-teacher ratios vary significantly across the EU.

The article discusses the ongoing struggle of homes and businesses in the EU to manage their energy bills despite a fall in energy prices since the record highs following Russia's invasion of Ukraine. It provides detailed comparisons of electricity and natural gas prices across various EU countries, highlighting the disparities in costs. The article also examines the level of government support provided to mitigate the impact of the energy crisis, with Germany providing the most significant support in terms of total amount and as a percentage of GDP. The data is sourced from the Household Energy Price Index (HEPI) and a Brussels-based think tank, Bruegel. The article emphasizes the importance of such support in the context of the overall cost-of-living crisis affecting European households and businesses.

The article discusses the prevalence of strikes in Europe, highlighting recent industrial actions in France, the UK, Spain, and Germany. It examines the cultural significance of strikes in European working life and explores the frequency of such events across different countries. The European Trade Union Institute's data is used to compare the average annual working days lost due to strikes per 1,000 employees, showing variations and trends over the past two decades. The article notes a general decline in the number of days lost to strikes, with significant decreases in countries like Spain and Turkey. It also touches on the importance of the right to strike and collective bargaining, citing the International Labour Organization's data on collective bargaining coverage rates. The article concludes by mentioning the challenges in comparing international data on strikes due to varying definitions and measurements.

The article by Servet Yanatma discusses the EU's shift in energy imports following the Russian invasion of Ukraine. The EU has imposed sanctions on Russian energy and reduced its dependency, with a significant drop in Russian gas supplies. Eurostat data shows a decrease in Russian energy imports from 24.4% of the EU's gross available energy in 2020 to a much lower percentage in 2022. The shortfall has been compensated by increased imports of LNG from the US, which more than doubled, and other sources like Norway and Algeria. The EU has also seen a significant growth in renewable energy. The European Commission is satisfied with the progress, which has helped ensure energy security and reduce reliance on Russian fossil fuels. The sanctions are also financially impacting Russia, with daily losses exceeding €160 million due to the EU's oil embargo and the G7's price cap. The article emphasizes the need for continued diversification of energy sources and investment in renewables to counteract Russia's energy leverage.

The article discusses the impact of inflation on real minimum wages across the European Union and Turkey. In 2022, inflation rates in the EU soared to the highest levels in four decades, leading to a cost-of-living crisis, especially for low-income households. Despite nominal increases in minimum wages in many EU countries, the real minimum wages, which account for inflation, have decreased. The Organisation for Economic Co-operation and Development (OECD) has highlighted the need for regular revisions of minimum wages to protect the standard of living for low-paid workers. The article provides detailed statistics on the minimum wages in EU member states, both in nominal terms and adjusted for purchasing power standard (PPS), and notes that real minimum wages have fallen in most of Europe over the past year, with the highest decline in Latvia at 18.2 percent. The OECD has called for regular updates to minimum wages to ensure they remain effective during times of high inflation.