The European Labour Market Barometer recorded a 0.3-point decline in August, bringing it to 99.9 points. After four months in positive territory, the barometer has slipped back to just below the neutral 100-point mark. Consequently, the leading indicator of the European Network of Public Employment Services and the IAB has fallen back to the level seen at the start of the year, reversing a previous slight upward trend. "Energy prices are weighing on a continued recovery of the European labour markets," explains Enzo Weber, IAB head of forecast. The component forecasting unemployment registered its first decline in five months, dropping by 0.4 points to 99.7 points. The employment component continued its slow downward trend, falling slightly by 0.2 points to exactly 100 points.
European Labour Market Barometer falls below 100 points in August
The European Labour Market Barometer recorded a 0.3-point decline in August, bringing it to 99.9 points.