Labor demand
There is an empirically verifiable positive correlation between growth and employment in industrialized countries. If real economic growth is higher than two percent, employment generally increases by around half a percent in the following year, although not evenly distributed across all sectors. The ECB monitors this development within the framework of the two-pillar principle. – See labor force potential, labor market flexibility, unemployment rate, Balassa-Samuelson effect, female employment rate, offshoring, minimum wage unemployment, Phillips theorem, job advertisement index, hourly productivity, growth-employment relationship, competitive status, international, immigration. – Cf. ECB Monthly Bulletin of January 2007, pp. 67 ff. (detailed, textbook presentation with many overviews), Deutsche Bundesbank Monthly Bulletin of January 2007, pp. 40 ff. (labor demand in the business cycle), ECB Monthly Bulletin of April 2007, pp. 51 ff. (sectoral employment developments in the euro area since 1991; overviews), ECB Monthly Bulletin of November 2007, pp. 56 ff. (special features of unemployment statistics; important information on survey techniques), Deutsche Bundesbank Monthly Bulletin of November 2007, p. 53 (conversion of statistics), ECB Monthly Bulletin of January 2008, pp. 88 ff. (the increasing relocation of work processes abroad is taking place at the expense of the low-skilled in Germany; overview; references), ECB Monthly Bulletin of July 2008, pp. 58 ff. (past and future developments; impact of measures on monetary policy, overviews), ECB Monthly Bulletin of September 2008, pp. 80 ff. (employment developments since 1987; breakdowns; overviews), ), ECB Monthly Bulletin of November 2008, pp. 75 ff. (detailed, textbook presentation; many overviews), Deutsche Bundesbank Monthly Report of December 2008, pp. 44 ff. (on the importance of flexibility in the labor market), ECB Annual Report 2008, pp. 77 ff. (labor demand in the financial crisis; overviews), Monthly Report of the Deutsche Bundesbank of April 2009, p. 17 ff. (here also the problem of minimum wages), Monthly Report of the Deutsche Bundesbank of October 2010, p. 62 f. (comparing Germany to the U.S.; overviews), Monthly Report of the ECB of March 2011, p. 90 ff. (Labor Market Mobility in the Euro Area; Many Overviews), ECB Monthly Report of December 2011, pp. 16 ff. (Comparison of Labor Market Mobility in EU Countries; Overviews), ECB Monthly Report of December 2012, pp. 81 ff. (Labor Market in the Euro Area since 2006; Overviews; References), ECB Monthly Report of August 2013, pp. 74 et seq. (labor market in the financial crisis; many overviews; EMU/ U.S. comparisons), ECB Monthly Bulletin of November 2013, p. 82 et seq. (labor force participation in the EMU since 2000 broken down by several criteria; similar patterns in all EMU countries; many overviews).
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