Lane: Eurozone, US labor market tightness different - Breaking The News

Lane: Eurozone, US labor market tightness different

10 February

1 min read

EPA-EFE/MARISCAL

European Central Bank's (ECB) Chief Economist Philip Lane (pictured) pointed out on Thursday that the level of labor market tightness in the Eurozone differs from the United States. Delivering a speech in Frankfurt, Lane noted that the labor force participation rate in the euro area is back to pre-pandemic figures.

He added that the "overall profile of the euro area suggests smooth recovery" in overall labor supply and "provides hopeful signs of a gradual-but-sustained increase in labor demand."

"Such a gradual tightening of the labor market constitutes a key mechanism for inflation to stabilize at our two percent target over the medium term, whereas there are no indications of aggregate overheating in the euro area labor market," he concluded.

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