The European Labour Market Barometer has climbed above the neutral mark of 100 points for the first time since mid-2023. The leading indicator of the European Network of Public Employment Services and the IAB rose by 0.3 points to 100.1 points in November compared with the previous month. Since the beginning of the year, the barometer has shown a tendency to recover. Both components rose in November – the unemployment component by 0.3 points to 99.8 points, and the employment component by 0.3 points to 100.4 points. Nevertheless, the unemployment component remains slightly pessimistic, and the employment component has been only slightly above 100 for 1.5 years. ‘The European Labour Market Barometer has left the low-pressure zone. However, this does not yet mean that the outlook is sunny,’ explains Enzo Weber, IAB head of forecast.
European Labour Market Barometer rises above 100 for the first time since mid-2023
The European Labour Market Barometer has climbed above the neutral mark of 100 points for the first time since mid-2023.