Indicators of labour market conditions in the euro area

Vasco Botelho and António Dias Da Silva

Economic Bulletin Boxes, 2019, vol. 8

Abstract: This box proposes two complementary tools for assessing the performance of the labour market in the euro area. The first is a visualisation tool in the form of a spider chart that displays 18 variables characterising the current euro area labour market conditions. The second applies a principal component analysis to the variables in the spider chart and summarises the information on labour market conditions in two indicators: level of activity and labour market momentum. These indicators show that, in the second quarter of 2019, the level of activity in the euro area labour market was at a level comparable with the pre-crisis peak, while the labour market momentum remains elevated but is declining somewhat. The analysis suggests that there is scope for the level of activity in the euro area labour market to continue to improve in the near term, benefiting from an overall still positive labour market momentum. JEL Classification: E24

Keywords: employment; labour market; unemployment (search for similar items in EconPapers)
Date: 2019-12
Note: 686280
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Citations: View citations in EconPapers (4)

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