Labour Market Observation Based on the Labour Market Monitor
Assessments of the labour market situation in the EU countries are typically based on a handful of key indicators, chief among them unemployment, an approach which focuses attention on a single aspect of the overall labour market situation. Using the labour market monitor, a set of 58 indicators bundled into five indices, on the other hand highlights a broader spectrum of labour market aspects in a European context. In addition to its comprehensive stocktaking drawing on recent data, the labour market monitor allows observing labour market performance across time. Thus, it points out the significantly increased divergency between EU countries due to the financial market crash and economic crisis. It is only since 2014 that macroeconomic labour market performance is converging again within the EU.