Lithuania's Employment Service forecasts a decline in unemployment and an increase in employment over the next three months, despite a general downturn in European labor markets.
Lithuania's Employment Service has reported optimistic forecasts regarding the country's unemployment rates, predicting a decrease in unemployment and a rise in employment in the coming months. This follows a notable shift in the employment barometer, which rose from a negative to a positive zone, reaching a reading of 101.1. The increase in the employment component by 3.4 points to 101.4 indicates a favorable outlook for job creation as the labor market adjusts positively.
In contrast, the report highlights that other European nations are not showing signs of a swift recovery in their job markets. The European labor market barometer decreased slightly for the third consecutive month, indicating a broader stagnation in employment across the continent. Specifically, the primary index fell by 0.2 points to 99.6, suggesting that while other countries struggle, Lithuania might still be carving a path toward recovery.
Experts from the German Institute for Employment Research have pointed out the challenges faced by the European labor market, stating that recent downturns demonstrate a lack of momentum in recovery efforts. This situation poses a risk not only to individual countries' labor markets but could also have wider implications for the region's economic stability as a whole.
