The European Labour Market Barometer has gone down for the sixth time in succession, reaching 99.1 points in October.
This represents a small drop of 0.2 points compared with September. The component that predicts unemployment decreased by 0.1 points to 97.4 points, thereby remaining firmly in negative territory. The component that predicts employment went down by 0.3 points month on month to stand at 100.9 points in October. Employment prospects are therefore just about still in the green. With only a few exceptions, the prospects for many participating European countries fell further into negative territory in October.
The world economy has been dented by the energy crisis, and this is taking its toll on Europe’s labour markets
reports Enzo Weber, IAB head of forecast.
Read more about how the European Labour Market Barometer helps predict (un)employment trends: