A European Labour Market Barometer, published for the first time on Tuesday 20 October, shows: The prospects on the labour market are stabilising in many European countries. The barometer predicts the development of the seasonally adjusted unemployment for the next three months, as well as the development of employment. The European Labour Market Barometer is based on a survey carried out jointly by the public employment services and the Institute for Employment Research (IAB) once a month among local or regional employment agencies.
The European Labour Market Barometer was 98.7 points in September. Compared to the previous month, it has risen by 0.8 points. After the labour market indicator fell by 6.9 to 93.6 points in April, a considerable part of the decline has now been offset. The scale of the European Labour Market Barometer ranges from 90 (very poor development) to 110 (very good development). The value 100 is the neutral mark at which neither a significant improvement in the labour market nor a significant deterioration is expected in the next three months.
The situation on the labour market in Europe is stabilising, but the crisis is not over yet. Public employment services have particular expertise in assessing the local labour market. This expertise is bundled in the European Labour Market Barometer in order to obtain an outlook on the labour market development in Europe
explains IAB research department head Enzo Weber, who initiated the European project.
All indicator values are also available separately for the 15 public employment services that are currently participating in the European Labour Market Barometer: Austria, Bulgaria, Cyprus, the Czech Republic, Denmark, Belgium-DG, Belgium-Flanders, Germany, Iceland, Liechtenstein, Lithuania, Luxembourg, Malta, Portugal and Belgium-Wallonia.
The European Labour Market Barometer is an excellent example of the cooperation between public employment services in Europe. The project will continue to grow, further countries have already confirmed their participation
says Johannes Kopf, Chair of the PES Network.
The time series data of the European Labour Market Barometer and further information about the Barometer can be found at https://www.iab-forum.de/en/launch-of-the-european-labour-market-barometer.