Bert Colijn, senior economist at ING, notes that the Eurozone unemployment rate has fallen to 7.9% in November, a new decade low as it witnessed a drop in the number of unemployed of 90,000.
Key Quotes
“After a few months of stagnation in the job market, this is a relief as it indicates that uncertainty about the economic outlook and a slowing pace of growth has not caused employment growth to grind to a halt just yet.”
“With unemployment under 8%, it is likely that wage growth will continue to pick up.”
“The question remains how long the labour market recovery can go on. It could well be that declining unemployment will slow with businesses showing weaker hiring intentions in recent surveys.”
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