Euro-Area Employment Rises at Fastest Pace Since 2008: Chart
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Employment in the euro area rose in the first quarter at the fastest annual pace since before the financial crisis, taking the number of people in work to a record 154.8 million. While that’s good news, ECB President Mario Draghi isn’t fully confident in the health of the labor market -- just last week he noted that many jobs are “low quality,” temporary or part time. That means pay growth is subdued, one reason loose monetary policy isn’t going away just yet.