Employment Change q/q shows the change in the number of people employed in the euro area resident companies in the given quarter compared to the previous one. The indicator calculation includes all types of employment: full-time, part-time, seasonal and temporary work, self-employment, etc. It also includes unpaid employment (such as family members employed in family manufacturing firms).
Data for the indicator calculation are collected for all the EU Member States. Information is collected based on censuses, employment and income tax registers, surveys of production activities, etc.
Employment change is an important macroeconomic indicator. It allows evaluating the state of the labor market in the eurozone. Other key indicators of the EU economy health are calculated on its basis. For example, a parallel assessment of employment change and GDP changes provides an indicator of productivity. In combination with data on remuneration received by employees, the employment change provides the unit labor costs. Employment data is also used in the value added calculation.
Economists may interpret the data on employment changes in relation to forecasting consumer activity. A growing employment suggests that the income of the population will grow, which may lead to a higher consumer activity. People will spend more. This allows predicting inflation to grow and to reach the target level. So, employment growth is usually seen as positive for euro quotes.
The chart of the entire available history of the "European Union Employment Change q/q" macroeconomic indicator. The dashed line shows the forecast values of the economic indicator for the specified dates.
A significant deviation of a real value from a forecast one may cause a short-term strengthening or weakening of a national currency in the Forex market. The threshold values of the indicators signaling the approach of the critical state of the national (local) economy occupy a special place.
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