Euro Area Employment Change

The number of employed persons in the Euro Area rose by 0.2% from the previous quarter to 170.932 million in the three months to September of 2024, the same as in the last period and matching earlier estimates. The results maintained the view that the currency bloc’s labor market remains stable following the ECB’s historical tightening cycle, limiting the urgency for expedited rate cuts to attend to employment levels. Among the major economies, employment grew by 0.6% for Spain and 0.5% for Italy, while it fell by 0.1% for Germany. On an annual basis, employment in the Euro Area grew by 1%, picking up from a 0.9% increase in the second quarter.