Falling by 0.5 points in July, the European Labour Market Barometer now stands at 100.6 points and is thus only just above the neutral mark of 100 points. The labour market leading indicator of the European Network of Public Employment Services and the IAB declined in July, with the most pronounced decreases recorded in eastern Europe. The unemployment component went down by 0.5 points to 99.1 points, indicating that unemployment is trending slightly upwards. Although the employment component dropped by 0.4 points to 102.1 points in July, it still indicates that employment is expected to increase.
Europe’s labour markets remain muted owing to the late effects of the energy crisis
reports Enzo Weber, IAB head of forecast.