OF THE TYPE OF CHANGE IN THE STRUCTURE OF PUBLIC EXPENDITURE TO BE AIMED AT . ONLY A SMALL PART OF THE AGE GROUP 15 TO 25 BENEFIT FROM VOCATIONAL TRAINING SCHEMES . IN A PERIOD OF FASTER STRUCTURAL CHANGE THERE WILL BE A CONCOMITANT GROWTH IN DEMAND FOR TRAINING AND RE-TRAINING . THE COMMUNITY HAS CONTRIBUTED TO THE VOCATIONAL TRAINING SCHEMES AND TO EMPLOYMENT PROMOTION THROUGH THE EUROPEAN SOCIAL FUND , WHICH IN 1979 GRANTED 300 MILLION ECU TO THESE PURPOSES .
FOR ADAPTING LABOUR SUPPLY AND DEMAND , AN ACCELERATED CUT IN STANDARD WORKING HOURS WOULD NOT BY ITSELF GUARANTEE A REDISTRIBUTION OF THE EXISTING VOLUME OF WORK , AND COULD , IN ADDITION TO RISKING COST INCREASES , CREATE ADDITIONAL UNEMPLOYMENT DUE TO BOTTLENECK PROBLEMS . THERE ARE MANY OTHER WAYS , HOWEVER , IN WHICH A MORE FLEXIBLE APPROACH TO WORKING TIME MAY BE REALIZED : SOCIAL SECURITY RULES AND LABOUR MARKET LEGISLATION IN SEVERAL MEMBER STATES RESTRICT THE RESORT TO PART-TIME EMPLOYMENT AND SHOULD BE RECONSIDERED . WHILE THIS WOULD IN SOME COUNTRIES INCREASE LABOUR SUPPLY , THE OVERALL NET IMPACT ON THE LABOUR MARKET SHOULD BE POSITIVE , AS SOME EXPERIENCES HAVE SHOWN . A GENERAL LOWERING OF THE RETIREMENT AGE WOULD NOT NECESSARILY CORRESPOND TO THE DESIRE OF ALL EMPLOYEES AND WOULD MOREOVER GO AGAINST TRENDS IN MORTALITY AND HEALTH . A MORE FLEXIBLE ATTITUDE TO RETIREMENT BASED ON THE INDIVIDUAL'S HEALTH , PREFERENCES AND APTITUDES , INCLUDING A POSSIBILITY FOR A GRADUAL RETIREMENT THROUGH RESORT TO PART-TIME WORK FOR PERSONS ABOVE A CERTAIN AGE MIGHT , HOWEVER , CONTRIBUTE IMPORTANTLY TO THE WELFARE OF ELDER CITIZENS AND CREATE ADDITIONAL EMPLOYMENT POSSIBILITIES FOR YOUNG PEOPLE .
SOME MEMBER STATES HAVE INTRODUCED SPECIAL EMPLOYMENT OR RECRUITMENT SUBSIDIES FOR YOUNG PEOPLE - IN SOME CASES TO OFFSET THE IMPACT OF STATUTORY RULES ON MINIMUM WAGES AND IN AT LEAST ONE MEMBER STATE A DIRECT LINK BETWEEN EARLY RETIREMENT AND APPOINTMENT OF NEW YOUNG EMPLOYERS HAS BEEN APPLIED DURING A CERTAIN PERIOD . SUCH SCHEMES CAN HAVE A FAR MORE RAPID AND EXTENSIVE COVERAGE THAN INDIVIDUALIZED SCHEMES FOR VOCATIONAL TRAINING ; HOWEVER , THEY SHOULD BE SEEN AS A POSSIBLE COMPLEMENTARY TECHNIQUE RATHER SUBSTITUTING FOR A STRONG VOCATIONAL TRAINING EFFORT . SPECIFIC JOB CREATION SCHEMES MAY GIVE A HIGHER ASSURANCE OF CREATING ADDITIONAL EMPLOYMENT , BUT THE CONSTRAINTS HERE ARE THOSE OF BUDGETARY COST , AND THE OBJECTIVE OF LIMITING PUBLIC SECTOR EMPLOYMENT .
III . POLICY IN THE MEMBER STATES
IN DENMARK , THE MARKED DETERIORATION IN THE BALANCE OF PAYMENTS OVER THE LAST FEW YEARS LED THE AUTHORITIES TO INTRODUCE , IN DECEMBER 1979 , AN AUSTERITY PROGRAMME AIMING AT AN IMPROVEMENT OF THE ECONOMY'S COMPETITIVE POSITION . IN 1980 , THE DETERIORATION CONTINUED AS A RESULT OF THE UNFAVOURABLE DEVELOPMENT OF THE TERMS OF TRADE AND THE INCREASE IN THE BURDEN OF SERVICING THE EXTERNAL DEBT , A SITUATION WHICH NECESSITATED , IN MAY 1980 , A STRENGTHENING OF THE RESTRICTIVE MEASURES LEADING