Europe’s job market still hums. But look closer and you’ll see the gears grinding.
If Europe wants to grow without replaying the last inflation drama, it will need more hours, more matches, and fewer reasons for people to step out of the labour market entirely. There’s a comforting story about Europe right now. Unemployment has edged down again. The employment rate has inched higher. Across the bloc, real wages are starting to claw back lost ground. You can feel the relief from Brussels to Bratislava: the worst of the...