Eurozone employment-to-GDP-growth ratio has recovered strongly – ECB
Productivity remains “stagnant at pre-crisis levels”, despite recovery
The relationship between GDP growth and employment in the eurozone has made a strong recovery since 2013, the European Central Bank (ECB) says.
Many observers had noted that the relationship had broken down following the onset of the global financial crisis in 2008, but fewer had noted the recovery, the ECB argues.
Some policy-makers and economists had believed that the pre-crisis employment-to-GDP ratio would not recover, the ECB says in a pre-released article due to be published in its
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