The euro area labour force: recent developments and drivers

Agostino Consolo, António Dias Da Silva, Catalina Martínez Hernández and Marco Weißler

Economic Bulletin Boxes, 2023, vol. 6

Abstract: The strong rebound in the labour force is a notable development in the euro area labour market and supported the resilient employment growth in recent quarters. In particular, over the last year and a half the main source of employment growth has been the strong inflow of people joining the labour force rather than a fall in the number of unemployed. This box provides an overview of recent euro area labour force developments, using data from Eurostat and the ECB Consumer Expectations Survey. It also analyses the drivers of the euro area labour force using a mixed-frequency Bayesian VAR to disentangle the push and pull factors behind the labour force dynamics. JEL Classification: E24, J21

Keywords: ECB Consumer Expectations Survey; Labour force; Mixed-frequency Bayesian VAR models (search for similar items in EconPapers)
Date: 2023-09
Note: 3572376
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Persistent link: https://EconPapers.repec.org/RePEc:ecb:ecbbox:2023:0006:3

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