Euro Area Employment Change

The number of employed persons in the Euro Area rose by 0.2% from the previous quarter in the three months to September of 2024, picking up from the downwardly revised 0.1% in the earlier period and above the market expectations of a slight 0.1% increase. The results maintained the view that the currency bloc’s labor market remains at a stable state following the ECB’s historical tightening cycle, limiting the urgency for expedited rate cuts to attend to employment levels. On an annual basis, employment in the Euro Area grew by 1%, picking up from the revised 0.8% increase in the second quarter.