One in three Europeans of working age has few or no formal qualifications, making them 40% less likely to be employed than those with medium-level qualifications, according to figures compiled by an expert group.

Nearly a third of Europe's population aged 25-64 have no, or only low, formal qualifications and only one quarter have high-level qualifications, according to the 'New Skills for New Jobs' report.

The document, written by an independent panel established by the European Commission, was published yesterday (4 February)and is expected to feed into a new skills strategy due to be launched by the EU executive later this year.

...Unemployment in the EU 27 has hit 9.6%, but skilled workers are significantly less likely to be out of work. Figures released with the report also show that companies that train their staff are 2.5 times less likely to go out of business compared to firms that do not.

However, experts warned the growth in temporary and contract working arrangements could make employers less likely to invest in upgrading skills.

(My emphasis)

_{*Lunatic*, n.
One whose delusions are out of fashion.}