Europe, productivity and aging
Europe must find greater autonomy in the somewhat crazy world that is emerging. China is no longer such a strong market, Russia is no longer a cheap source of energy,…
Philippe Waechter's blog
The Euro Area creates more jobs than in the US. Is it efficient ? What about France and its specific labor market ?
Employment is growing in the Eurozone and activity is growing rapidly despite the crisis in Ukraine. However, the room for manœuvre in the management of the economy is limited. Very…
Employment is on the rise in the Eurozone but productivity is a drag
Employment in the Eurozone increased by 0.5% in the last quarter of 2021. Over one year, it increased by 2.1%. The level of employment is now higher than that seen…
GDP, Employment and Productivity in the Euro Area
Employment increased in the euro area during the first quarter (+ 1.4% annualized). The pace of job creations is solid. However, since the beginning of 2018, productivity has lost momentum…
The Macro 2 pagers – Low interest rates for a long time
The Macro 2 pager explains how the interest rates profile will remain low for an extended time. The central banks’ stimulus after the 2008 crisis has been caught up by an…
The UK low productivity momentum: the real issue
John van Reenen, a professor of economics at the Massachusets Institute of Technology, said if the UK could not boost productivity growth, wages would not increase, tax receipts would not…
Jobs and the machine
As long ago as 1984, in his Paths to Paradise, André Gorz, a self-proclaimed “revolutionary-reformist” stated, baldly, that the “micro-economic revolution heralds the abolition of work”. He even argued that…
Six major changes since the financial crisis – My Monday column
Developed countries’ economies were enjoying robust growth in the first half of 2008, despite some initial cracks that had been appearing since the previous summer. That was ten years ago,…