Euro Area: +6.6 million jobs since 2013

During the first half of 2017, the employment level came back at its pre-crisis peak level. This was already the case for the first quarter but it has been confirmed for the three months to June.
This robust profile in employment reflects a catch up when growth is more robust and with less uncertainty. On the graph we see that the employment profile is smoother than the GDP profile and is clearly in a catch up period.
Since the beginning of the recovery at the beginning of 2013, the Euro Area has added 6.6 million jobs. 
EA-2017-q2-GDP-employ
During the summer period, the number of jobs creation should remain high even if no acceleration is expected.
ea-2017-q2-employment-PMI
Associated with the higher momentum seen on corporate investment, the employment dynamics suggests a virtuous business cycle which depends more on internal conditions than on the global environment. That’s a pretty good and positive signal for the GDP growth in the future.

One thought on “Euro Area: +6.6 million jobs since 2013

  1. Pingback: The Eurozone Economy: a revival | Philippe Waechter's blog

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