It is announced that compared to April, unemployment in Europe has fallen by 0.1 point. The leading labor market indicator from the European Network of Public Employment Services and the Institute for Employment Research (IAB) stands at 101.7 points and is well above the neutral limit of 100 points.
“The energy crisis is probably no longer affecting the labor market, but the consequences are not yet fully over,” said Enzo Weber, head of forecasts at the IAB.
The employment component increased slightly in May (+0.3 points) and reached 103.6. This indicates strong employment growth. On the other hand, the unemployment forecast component fell slightly (0.4 points) and found itself below the neutral limit (99.8). Such data allow us to anticipate stagnation in unemployment.
At the same time, the evolution of the barometer in recent months has been uneven and is currently weaker in Central Europe than elsewhere. In Lithuania, the labor market barometer fell slightly and reached 103.2 points, but it exceeds the average for all countries.
Source: The Delfi
