The economic downturn in the Eurozone may soon lead to an increase in the unemployment rate.
The latest data shows that the euro area's unemployment rate in August was 6.4%, remaining at a historic low. ing groep economist Bert Colijn stated that although the euro area economy is weakening, it has not caused more people to become unemployed yet, but this situation may change. He pointed out in a research report that even amidst the economic slowdown, the demand for labor remains strong, leading to concerns about productivity development, but also boosting household income growth and enhancing short-term confidence. However, companies still see labor shortages as a top issue, despite further relaxation in the job market. He said: "As the economy grows".
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