The European Labour Market Barometer dropped below the neutral 100-point mark to 99.8 points in May. This is equivalent to a decrease of 0.7 points compared to April. Both components of the leading labour market indicator of the European Network of Public Employment Services and the IAB fell in May. The component that predicts unemployment decreased by 0.7 points to 98.5 points, while the component that predicts employment fell by 0.6 points to stand at 101.2 points in May. Although a moderate increase in employment is still expected, unemployment is also expected to rise. “The European labour markets are stagnating,” says Enzo Weber, IAB head of forecast.
European Labour Market Barometer falls for the first time after rising three times in a row
The European Labour Market Barometer dropped below the neutral 100-point mark to 99.8 points.