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The euro area labour force: recent developments and drivers

Author

Listed:
  • Consolo, Agostino
  • Da Silva, António Dias
  • Martínez Hernández, Catalina
  • Weißler, Marco

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

Suggested Citation

  • Consolo, Agostino & Da Silva, António Dias & Martínez Hernández, Catalina & Weißler, Marco, 2023. "The euro area labour force: recent developments and drivers," Economic Bulletin Boxes, European Central Bank, vol. 6.
    • Handle: RePEc:ecb:ecbbox:2023:0006:3
    Note: 3572376
    as

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    More about this item

    Keywords

    ECB Consumer Expectations Survey; Labour force; Mixed-frequency Bayesian VAR models;
    All these keywords.

    JEL classification:

    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • J21 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Force and Employment, Size, and Structure

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