What have been the links between recruitment difficulties and employment in the past?
Companies' recruitment difficulties have become very significant in the euro zone, Germany, France and Spain and they are increasing in Italy. The question is whether these recruitment difficulties are slowing down employment and growth in these countries. There can actually be two types of causalities in opposite directions: Rapid growth in employment leads to recruitment difficulties: These difficulties are then not worrying; Recruitment difficulties slow down employment, and are then worrying. We see that: Rapid employment growth simultaneously leads to significant recruitment difficulties; Significant recruitment difficulties give rise to a slowdown in employment after two or three quarters .
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Natixis
Natixis
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