The great migrant crisis that has begun in 2015 when a vast number of refugees from war-torn countries of the Middle East and poor developing countries started to come to the European ground. The aim of this paper is to analyse the effects and outcomes of this crisis on the labour market of the European Union with particular emphasis on Germany as the country that has received the largest number of refugees. Because of the fact that the large number of refugees that came to Europe plans to stay there for a longer period of time, for the majority of them the only proper solution is their fast integration into the European labour market and assimilation in the new society. Analysing the example of Germany and examining the growth of its economy in the last few years it can be concluded that for the long run, with large cash outlay and investment into human resources, the integration of migrants into the domestic economy can have positive impacts on economic outcomes. This can also be applied to other countries that are faced with the shortage of workforce, and a successful integration of migrants can also help to address the general issue of the aging society. It is also important to emphasise that it is necessary to introduce targeted and often expensive measures that will improve the qualifications of potential workers what will result in their better adaptation to the European labour market. Although this kind of a process requires large sums of money, for the long run it is a profitable investment that will not only improve the labour market but it will also contribute to the social inclusion of the refugees.