Considerable slack may remain in eurozone labour market – ECB

The European Central Bank: notes high under-utilisation of eurozone labour
Annabel Jeffery

The under-utilisation of eurozone labour may be higher than that suggested by the unemployment rate, according to an article that will appear in the European Central Bank’s forthcoming Economic Review.

Current figures classify 3.5% of the eurozone’s working age population as “marginally attached to the labour force – that is, categorised as inactive, but simply competing less actively in the labour market”, the article notes. “A further 3% of the working age population are currently

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