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Louis Boisset, analyst at BNP Paribas, suggests that Eurozone’s GDP growth is causing concern, but the relative resilience of employment continues to surprise.

Key Quotes

“This trend is nothing new. The negative impact on employment of previous crises has been fairly restrained.”

“Despite considerable difficulties in the sector, manufacturing employment is holding up particularly well.”

“The slowdown in productivity gains could, in the short term at least, help drive the growth in jobs.”

“Slower growth in hours worked and low-skilled jobs: a possible labour hoarding phenomenon is under way in Eurozone companies.”