EU may lose 1.3 million job amid energy prices surge in World Economy News 05/06/2026 The European Union could lose up to 1.3 million jobs this year due to rising energy prices linked to the U.S.-Iran conflict, according to Labour Commissioner Roxana Minzatu. “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 said during a news conference on Wednesday. The European Commission estimates the automotive sector may face the largest impact, with potential layoffs reaching 600,000 positions. The construction, metals, chemicals, and transport sectors combined could shed 56,000 jobs. Battery projects account for 85,000 jobs at risk, while solar manufacturing faces potential losses of 58,852 positions. The steel sector could cut an additional 4,500 jobs due to low-carbon measures. Low-income households may need to allocate an extra 1.4% of their income toward transport fuel costs. The EU manufacturing sector currently employs around 30 million people, while the services sector provides nearly 87 million jobs. Source: Investing.com 2026-06-05 hellenicshippingnews... tweet Share