The leading indicator of the European Network of Public Employment Services and the IAB sank by 0.2 points compared with the previous month to 99.8 points in October, back below the neutral mark of 100 points. The unemployment component fell by 0.2 points to 99.5 points. Slight increases in unemployment are therefore possible. The employment component recorded a minimal decline of 0.1 points to 100.1 points. Employment thus remains stable overall. ‘Since the energy crisis ended the post-pandemic upswing, the labour market outlook in Europe has been stagnating,’ explains Enzo Weber, IAB head of forecast.
European Labour Market Barometer fails to hold 100 points
The leading indicator of the European Network of Public Employment Services and the IAB sank by 0.2 points compared with the previous month to 99.8 points in October, back below the neutral mark of 100 points.