Report
Patrick Artus

What accounts for the "job-rich" growth in the euro zone and France?

Since the start of 2018, growth has been "job-rich” in the euro zone and France, which means that job creation has been strong relative to GDP growth and that productivity gains are very low (or zero). What can account for the "job-rich" growth since 2018? Expectations of an acceleration in growth in the future, which does not seem to be the case; The fact that the new jobs are concentrated in sectors where the level of productivity is low, which is not clearly the case; Labour market reforms that make job creation easier, which may be the case in France; A fall in labour costs, which has not been the case in the recent period. All things considered, it is not that easy to explain the job-rich growth .
Provider
Natixis
Natixis

Based across the world’s leading financial centers, Natixis CIB Research offers an integrated view of the markets. The team provides support to inform Natixis clients’ investment and hedging decisions across all asset classes.

 

Analysts
Patrick Artus

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