News

Here are a few of the main conclusions that can be read in the Labour Market Monthly Monitor:

• Latest data (covering the period up to May/June) confirm that the labour market in the EU is stabilising, following several months of only relatively moderate deterioration, and may be reaching a turning point. The economy started to recover from deep recession around a year ago, but it may take some time before the fragile pick-up in economic activity triggers a solid rebound in the labour market.
  
• Unemployment in the EU has moderated since last autumn, and has recently shown signs of stabilising. It fell slightly by 7 000 in April and by a more substantial 37 000 (or 0.2 %) in May to 23.0 million. However, it is still 1.8 million (or 8.4 %) higher than in May the year before, and 7.2 million (or 45 %) higher than in March 2008, when unemployment was at a low.
  
• Unemployment in the EU has moderated since last autumn, and has recently shown signs of stabilising. It fell slightly by 7 000 in April and by a more substantial 37 000 (or 0.2 %) in May to 23.0 million. However, it is still 1.8 million (or 8.4 %) higher than in May the year before, and 7.2 million (or 45 %) higher than in March 2008, when unemployment was at a low.
  
• The unemployment rate for the EU has remained stable since February. The year-on-year rise narrowed to 0.7 percentage points (pps), although at 9.6 % the May unemployment rate is still 2.9 pps above the low of 6.7 % in spring 2008. Rises in the unemployment rate have eased in all Member States, and in May the rate remained unchanged or declined in a majority of countries. Nevertheless, the rate is still higher than a year ago in all but five Member States.
  
  
  
  
  

You can read and download the full report from the European Commission's website.