European Commission estimates employment

According to European Commission estimates, the no accelerating wage rate of unemployment (NAWRU), a gauge of structural unemployment, has indeed increased substantially since 2008 and indicators of labor-market mismatch have worsened.

But some caution is warranted as to the long-term trend of structural unemployment given that NAWRU estimates are influenced by a broad range of factors, for example labor market adjustment frictions and large negative shocks.

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