Europe unemployment rate hits record low, employment record up

[avikz]

I am not sure how true is that data but let's assume the data is true. I am delighted to see this because in the world of business there should always be a balance in economic power. Otherwise one nation will become extremely powerful and will start ruling others by creating monopoly. US has tried to do the same since many decades. The main brain behind the Russia and Ukraine war is US. So it's encouraging to see that despite all odds, Europe is showing growth.

The US dominance must end and Euro should emerge as the a competitor for USD. This is only possible if internal market grows. So it's a good sign.

[Unbunplease]

I am not sure how true is that data but let's assume the data is true. I am delighted to see this because in the world of business there should always be a balance in economic power. Otherwise one nation will become extremely powerful and will start ruling others by creating monopoly. US has tried to do the same since many decades. The main brain behind the Russia and Ukraine war is US. So it's encouraging to see that despite all odds, Europe is showing growth.

The US dominance must end and Euro should emerge as the a competitor for USD. This is only possible if internal market grows. So it's a good sign.

The problem with statistics is that indicators can always be changed when accounting models are updated. The problem with statistics is that the indicators can always be changed if the accounting models are updated. Therefore, it is better to believe not statistics, but what we see with our own eyes. And what we see contradicts official statistics

[el kaka22]

I think this makes sense considering the inflation is high and wages are still low. Which means that if you hire people, and they make a product, the product price is higher and the wage for the people who make the product is still low. That makes you earn a lot more money and as you can see from record breaking numbers of profits from companies that it is not going to be any different for a while longer.

I get it, it is not going to be simple and yes it is going to end up with something that will end up being a little different in the end, but that doesn't change the fact that it is going to end up being something that changes the result at all, I believe that we are going to end up with a different situation in the end.

[DrBeer]

I am not sure how true is that data but let's assume the data is true. I am delighted to see this because in the world of business there should always be a balance in economic power. Otherwise one nation will become extremely powerful and will start ruling others by creating monopoly. US has tried to do the same since many decades. The main brain behind the Russia and Ukraine war is US. So it's encouraging to see that despite all odds, Europe is showing growth.

The US dominance must end and Euro should emerge as the a competitor for USD. This is only possible if internal market grows. So it's a good sign.

You have rather strange thoughts I would like to clarify.

1. "The main brain behind the war between Russia and Ukraine is the USA" - please give me arguments that can be verified. I, as a citizen and resident of Ukraine, have seen it from a completely different perspective, and I can say that the pumping of anti-Ukrainian currents began in Russia long before the first attack on Ukraine in 2014. Before that, Azerbaijan, Ichkeria, Moldova and Georgia fell under Russian aggression. It must have been done by the "USA" too ? Please provide arguments ?
I understand that the students who came out to the rally on Khreshchatyk, in winter 2013, calling on Yanukovych to fulfill his promises and continue the vector of European integration, instead of an unexpected turn into the bloody arms of the Kremlin - it was all set up by the U.S., right ? 

2. "US domination must end" - Hm  there are 2 questions here:
- Why ?
- What do you or your country personally hinder US domination ? Envy is understandable, but I would like some more interesting arguments ? 

[davis196]

Can't wait to see the usual Russian muppets trying to twist this as being bad!

The Putin propaganda doesn't care about facts and statistics. They care about their own twisted perception of reality.
The EU is doomed without Russian gas. The European industry is moving towards the USA, the EU is going to be deindustrialized.
The high interest rates and high oil prices(after Saudi Arabia decreasing it's daily oil production) will cool down the European economy for sure.
Germany is already in a small recession, but I don't see this as such a big drama. The EU will be just fine.
I wonder why the euro is now worth 106 Russian rubles. Wasn't the EU heading towards a financial disaster, while Russia keeps growing and getting more prosperous day after day? Why the Russian ruble went down?

[be.open]

Can't wait to see the usual Russian muppets trying to twist this as being bad!

If you want to hear an alternative opinion - of course I will not deny you this pleasure.

Abnormally low unemployment is a very worrying signal for the European economy. This is a manifestation of the uncertainty of people of working age in their bright future, it is the fear of the uncertainty of the future that makes people hold on to work and not enter the labor market as free agents. Employers have no other reliable mechanism to cope with the shortage of labor supply than to increase the wages of new employees. This, in turn, spurs inflation and inflation expectations. There is nothing more foolish than to consider an abnormally low unemployment rate a good symptom in the economy, it only makes you out to be an absolute amateur in economic matters.

[kryptqnick]

I'm happy that the Eurozone is doing well, and like the op, I'm tired of pro-Russian propaganda twisting reality hard to try to say that something very different is going on. Of course there's poverty, homelessness, unemployment. These just aren't things that our world has conquered yet, so a lot of bad stuff is happening everywhere. And it should be noted that countries are very uneven in the Eurozone, some much stronger than others. But the percentage and comparison between regions matters. And using framing to focus on things that create very distorted images of reality is deeply problematic, albeit unfortunately efficient.

[bussybuddy]

Current times are turbulent and unpredictable in Europe. There are many complicating factors influencing the situation, and understanding all of them is indeed a difficult task. There seems to be a lack of clarity about the future of Europe's economic and labor markets, especially as it all changes so quickly.

Forecasts and information about the European economic situation are also often variable and do not fully reflect reality. There can be many reasons that people do not seem to be actively looking for a job. Perhaps a change in preference or mood also plays a role.

[Ultegra134]

I don't want to be the bearer of bad news, like it was suggested by another user, but while it's a positive thing that unemployment is low, the cost of living has increased so much due to inflation that it's pretty much unbearable in some countries. Thus, the ideal would be not only to have low unemployment rates but also a higher minimum wage, with which you'd be able to live quite comfortably. However, this isn't always possible, at least not yet, and we should focus on the positive, not the negative. This is an important stepping stone towards achieving a better economy for everybody. Till then, we should focus on ourselves, acquire new skills, and become a better version of ourselves.

[DrBeer]

Can't wait to see the usual Russian muppets trying to twist this as being bad!

If you want to hear an alternative opinion - of course I will not deny you this pleasure.

Abnormally low unemployment is a very worrying signal for the European economy. This is a manifestation of the uncertainty of people of working age in their bright future, it is the fear of the uncertainty of the future that makes people hold on to work and not enter the labor market as free agents. Employers have no other reliable mechanism to cope with the shortage of labor supply than to increase the wages of new employees. This, in turn, spurs inflation and inflation expectations. There is nothing more foolish than to consider an abnormally low unemployment rate a good symptom in the economy, it only makes you out to be an absolute amateur in economic matters.

The ability to "change opinions and values" over the course of a dialog, choosing the most favorable version, even if the beginning of the sentence said something different is amazing  

Not long ago, all OFFICIAL russian propaganda media in russia (and there are no other media in russia), were squealing with delight - "unemployment in eu - which means they are "asshole" ! ha-ha-ha ! well, what have you done against russia ! and we warned !".

And then it turns out that unemployment is good !?? And its low level is bad ! I am very much waiting for a happy post from you that 50% ruble inflation in Russia is extremely useful for the Russian economy, and 5% dollar inflation is "the US is going to the abyss"  
Dear be.open - are you by any chance not Olga Skabeeva embedded in bitcointalk for primitive  manipulation ? Did I reveal you ?!  

[be.open]

Can't wait to see the usual Russian muppets trying to twist this as being bad!

If you want to hear an alternative opinion - of course I will not deny you this pleasure.

Abnormally low unemployment is a very worrying signal for the European economy. This is a manifestation of the uncertainty of people of working age in their bright future, it is the fear of the uncertainty of the future that makes people hold on to work and not enter the labor market as free agents. Employers have no other reliable mechanism to cope with the shortage of labor supply than to increase the wages of new employees. This, in turn, spurs inflation and inflation expectations. There is nothing more foolish than to consider an abnormally low unemployment rate a good symptom in the economy, it only makes you out to be an absolute amateur in economic matters.

The ability to "change opinions and values" over the course of a dialog, choosing the most favorable version, even if the beginning of the sentence said something different is amazing  

Not long ago, all OFFICIAL russian propaganda media in russia (and there are no other media in russia), were squealing with delight - "unemployment in eu - which means they are "asshole" ! ha-ha-ha ! well, what have you done against russia ! and we warned !".

And then it turns out that unemployment is good !?? And its low level is bad ! I am very much waiting for a happy post from you that 50% ruble inflation in Russia is extremely useful for the Russian economy, and 5% dollar inflation is "the US is going to the abyss"  
Dear be.open - are you by any chance not Olga Skabeeva embedded in bitcointalk for primitive  manipulation ? Did I reveal you ?!  

Your accusations of my inconsistency are absurd because I have never claimed on this forum that an abnormally low unemployment rate is a good thing. It seems that you have nothing to object to me on the merits, but you just want to earn another four bucks for a shitty post. Do not be shy, I understand that the Ukrainians are having a hard time now.

[Latviand]

I don't want to be the bearer of bad news, like it was suggested by another user, but while it's a positive thing that unemployment is low, the cost of living has increased so much due to inflation that it's pretty much unbearable in some countries. Thus, the ideal would be not only to have low unemployment rates but also a higher minimum wage, with which you'd be able to live quite comfortably. However, this isn't always possible, at least not yet, and we should focus on the positive, not the negative. This is an important stepping stone towards achieving a better economy for everybody. Till then, we should focus on ourselves, acquire new skills, and become a better version of ourselves.

Dude, increase in minimum wage is always possible, the companies just want you to think it's impossible because they don't want you getting the idea that you and your co-workers can demand something from them, if you look at the profits of most companies, you'll be able to see that they can all afford to pay their workers higher minimum wage or even increase their wages. Another reason I could see why it's not helping the economic health of Europe is that the budgeting of countries and their spending are either misused, incompetent or rife with corruption so the money goes nowhere.

[Joshapat]

Of course this is a good indication that the unemployment rate in Europe is the lowest, there are a few unemployed and many are busy with work, but I think whether the economic indication is only measured by low or high unemployment, of course we still have a lot of work to do, in my country the unemployment rate is still high, which is more than 20%, but many people work informally so they are included in the unemployment data.

[Pierre 2]

I feel like European welfare economics actually work better than people opposing the idea claiming against. When you give labor bigger share of economy obviously you cause more people have desire to be hired. Also your companies can feel safer becausde their laborers are very happy and not trying to jump from work to work. Only issue there with welfare is that lazy people are also awarded sometimes. Welfare economies should award hardworking people! So in summary I think Europe is fine but they need to combat inflation to make economy more stable.

[DrBeer]

Can't wait to see the usual Russian muppets trying to twist this as being bad!

If you want to hear an alternative opinion - of course I will not deny you this pleasure.

Abnormally low unemployment is a very worrying signal for the European economy. This is a manifestation of the uncertainty of people of working age in their bright future, it is the fear of the uncertainty of the future that makes people hold on to work and not enter the labor market as free agents. Employers have no other reliable mechanism to cope with the shortage of labor supply than to increase the wages of new employees. This, in turn, spurs inflation and inflation expectations. There is nothing more foolish than to consider an abnormally low unemployment rate a good symptom in the economy, it only makes you out to be an absolute amateur in economic matters.

The ability to "change opinions and values" over the course of a dialog, choosing the most favorable version, even if the beginning of the sentence said something different is amazing  

Not long ago, all OFFICIAL russian propaganda media in russia (and there are no other media in russia), were squealing with delight - "unemployment in eu - which means they are "asshole" ! ha-ha-ha ! well, what have you done against russia ! and we warned !".

And then it turns out that unemployment is good !?? And its low level is bad ! I am very much waiting for a happy post from you that 50% ruble inflation in Russia is extremely useful for the Russian economy, and 5% dollar inflation is "the US is going to the abyss"  
Dear be.open - are you by any chance not Olga Skabeeva embedded in bitcointalk for primitive  manipulation ? Did I reveal you ?!  

Your accusations of my inconsistency are absurd because I have never claimed on this forum that an abnormally low unemployment rate is a good thing. It seems that you have nothing to object to me on the merits, but you just want to earn another four bucks for a shitty post. Do not be shy, I understand that the Ukrainians are having a hard time now.

Question - have you been arguing with yourselves for a long time? At least it doesn't come to a fight ? 

Instead of many words, I will leave this post, one interesting interlocutor. Can you somehow explain your current answer and your previous post ? 

Abnormally low unemployment is a very worrying signal for the European economy. This is a manifestation of the uncertainty of people of working age in their bright future, it is the fear of the uncertainty of the future that makes people hold on to work and not enter the labor market as free agents. Employers have no other reliable mechanism to cope with the shortage of labor supply than to increase the wages of new employees. This, in turn, spurs inflation and inflation expectations. There is nothing more foolish than to consider an abnormally low unemployment rate a good symptom in the economy, it only makes you out to be an absolute amateur in economic matters.

[Alpha Marine]

Europe has broken all 20 years' records, in both the lowest unemployment level and in the percentage of citizens employed.

Now do purchasing power. The goal shouldn't be having more jobs, the goal should be being able to make a living.

--Knight Hider

Is there any other continent that has a higher purchasing power than Europe? If you want to use purchasing power are a metric then you have to also look at other factors like GDP, per Capita income, etc. If you use all these Europe is still good.

In terms of wealth Distribution Europe is second to North America so no matter the metric you want to use Europe is still good all things considered.

You said the goal shouldn't be more jobs, it should be "making a living", How are people supposed to make a living if they don't have jobs?

[panganib999]

I'm seeing freelancing and working from home as the primary reasons why the rate shot up all of a sudden. For one, it's way easier to work when you're not forced to commute for 2 hours all the while battling the elements just so you can get paid peanuts in the office. Plus if I'm not mistaken, inflation also forces people who are otherwise jobless to double up on the effort to look for one since now they can't just rely on their parents or whatever, which could also play a part in this increase in employment rates.

I'm basing all of this on common sense so if I'm wrong please correct me lol.

[stompix]

Let's bump this with more good news

https://www.euronews.com/2023/10/02/eurozone-unemployment-still-at-its-lowest-level-in-august-at-64

The unemployment rate in the eurozone fell by one-tenth from July to August, sitting at 6.4%. This is the lowest ever figure for the currency union, according to data released on Monday by the statistics office, Eurostat.

We have the lowest unemployment level in the history of the EU!

But why stop here, I mean when there is such youth unemployment in China:
https://www.cnbc.com/2023/09/03/chinas-urban-youth-unemployment-crisis.html

let's look at the bright side:
Employment of Newly Graduates in the EU Reached Record High in 2022, again another record for the EU topping by 1% the one before the crisis in 2018, and those are recent graduates, not all the youth, meaning that 82% of the ones that graduate got a job right after finishing studies, higher than the US and comparing only with recent graduates in China (till they stopped releasing data),  more than 2 times!!!!

Maybe that's one of the reasons thousands flee to Europe instead of let's say Russia? Or China?

[BitcoinTurk]

If i am not wrong then freelancing and online making also comes in the category of employment. And the stats you used to compare the number of people increased are old and from then freelancing is on top of every other job people prefer to do online job instead of offline one. Freelancing had provided a hell lot of benefits to European that's why they prefer to chose it. For example, earning in dollars or BTC and they are their own boss.

If this information is correct and freelance&online marketing are also included in employement rate, isn't this actually a bit of manipulation with statistics? As a result, people who provide such services don't have an income or work flow that we can classify regularly and therefore it isn't correct to include these people in the classification of "employed" individuals. Of course, this is my opinion but when we think logically it should be like this. Yes, by doing business on the internet or marketing a product/service a person becomes his/her own boss and creates a business cycle but unfortunately it wouldn't be correct to consider this as a permanent workforce.

[mvdheuvel1983]

I guess some will ask why I mentioned both, and that is because record-low unemployment doesn't really mean that few people are out of a job, it might mean that they simply don't care about finding one so they are not in the statistics. And here is where the employment level comes into place.

Interesting viewpoint. When I read the title, I was happy because I thought finally some good news but reading your first sentence has brain me indifferent. Considering now that we have digital nomads and remote workers I can't say that I agree with your statement. What can Europe do about this? If people are not looking for employment doesn't it mean that they are doing okay? Because there is no mention that the government is providing any support funds for them help. It is a bit confusing.