Euro Area Employment Change

The number of employed persons in the Euro Area rose by 0.9 percent on quarter to 160.8 million in the three months to September 2021, accelerating from a 0.7 percent growth in the previous period and above market expectations of 0.8 percent, preliminary estimates showed. It was the highest level of employment since the first quarter of 2020, when the Covid-19 pandemic hit the bloc’s labor market although there are still about half a million fewer jobs compared to the pre-pandemic period. Employment rose in France (3 percent), Italy (2.6 percent), Spain (2 percent), Germany (1.8 percent), and Italy (0.3 percent). Year-on-year, employment advanced 2 percent, following a 1.9 percent gain in Q2 and compared to expectations of a 1.6 percent increase.