Ukrainian Refugee Influx Could Ease Eurozone Labor Shortage: ECB

Ukrainian Refugee Influx Could Ease Eurozone Labor Shortage: ECB
Ukrainian refugees from the Azovstal steel plant in Mariupol arrive at a registration and humanitarian aid centre for internally displaced people as police guard in Zaporizhzhia, Ukraine, on May 8, 2022. Gleb Garanich/Reuters
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FRANKFURT—The influx of Ukrainian refugees into the European Union could gradually ease labor shortages in the eurozone as some of those fleeing the war are likely to settle permanently, the European Central Bank said on Monday.

Around seven million people, mostly women and children, have fled Ukraine so far since Russia launched its invasion on Feb. 24, and more are leaving each day, with many hoping to find durable employment opportunities in the 27-nation EU.