The Labour Market and Wage Developments in Europe report analyses the labour market from a macroeconomic perspective. It provides an analysis of recent employment and wage developments, looking at the euro area and the EU as a whole in comparison with its global trading partners.

This year edition shows that the EU labour market has been quite resilient to the Covid-19 recession. The strong policy response at the EU and national level and the temporary inflows into inactivity mitigated the impact on unemployment. Vaccination campaigns have contributed to reopening the economies and shoring up confidence of European citizens.

The effect of the recession varies across sectors, with a strong negative impact in manufacturing and contact-intensive sectors. By contrast, in the same period, employment in less contact-intensive services returned to its pre-crisis level and was even above that level in construction, health, and public administration.

Check out the key conclusions.

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