The European Labour Market Barometer fell for the second time in a row and sits currently at 101.0 points after a decline of 0.6 points since May. The outlook remains positive overall. The unemployment component of the labour market leading indicator of the European Network of Public Employment Services and the IAB fell by 0.3 points to 99.5, signalling a slight increase in unemployment. The employment component declined by 0.8 points, but remains in positive terrain at 102.6 points. This indicates that employment will continue to increase, albeit at a slower pace. "After a recovery since the beginning of the year, there is now a damper on the outlook for the European labour markets," explains Enzo Weber, IAB head of forecast. The economic consequences of the energy crisis are dragging on and are weighing on the development of the labour markets.
European Labour Market Barometer: Employment and Unemployment Expected to Rise
"After a recovery since the beginning of the year, there is now a damper on the outlook for the European labour markets," explains Enzo Weber, IAB head of forecast.