Yesterday, Eurostat presented May labor market data. The seasonally-adjusted unemployment rate in the euro area fell from 6.7% to 6.6% and thus fell (again) to the lowest level in the history of eurozons.
The ever tighter labor market is an element that is conducive to inflationary pressures and at the same time should be one of the arguments for the ECB to tighten monetary policy. The adequate rate for the EU remained at a record low level (over the 21st century) of 6.1%. Poland, with an unemployment rate of 2.7% in Eurostat’s methodology, is in second place in the EU.