The resilient Eurozone job market
Feb 02, 2023
As European economies are slowing due to the energy crisis and the tighter monetary conditions, we start to see job cuts. Sometimes these decisions, for example at Philips, Credit Suisse or SAP, are partly driven by specific corporate decisions. What strikes us is that the overall employment market in Europe appears rather resilient, at least up till now. The Eurozone unemployment rate held steady at 6.6% in December. This situation is something we will continue to closely watch going forward.