ECB, (2018), “Annual Report 2017”, April
In 2017, the economic recovery in the euro area developed into a solid and broad-based expansion. The economy grew by 2.5% and by the end of the year had recorded 18 straight quarters of growth. This represented the strongest expansion for a decade, and the broadest for two decades. The dispersion of growth rates among euro area countries fellto its lowest level since the start of Monetary Union.
Robust growth ensured that the recovery in the labour market continued apace. Employment rose by 1.6% to reach its highest level ever, buoyed by record participation rates for women and older people. Unemployment fell to its lowest level since January 2009. Overall, 7.5 million jobs have been created since mid-2013, offsetting the total number of jobs lost during the crisis.
Relevant Posts
- Gürkaynak, Refet, Weil, Philippe, (2017), «Eurozone economic recovery: Humming along just fine», VoxEU, 24 August
- ECB, (2018), «ECB staff macroeconomic projections for the euro area», March