Manufacturing Drives Employment in Europe’s Metros

While strong manufacturing reduces unemployment, metro areas with more service jobs underperform.

Unemployment rates were converging across European labour markets prior to the global financial crisis in 2008, but have widened since then. Although jobless rates for metro areas are generally in line with national averages, they can diverge, based on factors such as the stage of the economic cycle, the size of the metro area, its economic structure, and the pace of wage growth.

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