European monetary Union is about to complete five year anniversary, and crisis seems to be far from over in spite of recent recovery in Growth.
European Central Bank (ECB) has deployed many of its tools to fight the crisis, like LTRO, T-LTRO, OMT, SMPP, which is even showing signs of progress. However, current growth has remained so fragile that it is hardly creating enough jobs.
- Latest report suggests that, peripheral economies may not be creating enough job vacancies when compared to Euro area unemployment. Euro area unemployment is hovering above 11% as of now and Job vacancies rate has fallen by 0.1% to 1.7% in EMU.
What is striking, is that peripheral economies are doing worse in compare to job vacancies.
- While Job vacancy is 2.9% in Germany, highest in Euro area, countries like Portugal, Spain, Slovakia is having much worse rate less that 1%.
Though employment is rising sharply in Spain, Ireland other countries like Italy, France need to continue the necessary reform to support employment, which stands as the most crucial economic indicator in Euro area.
The material has been provided by InstaForex Company – www.instaforex.com