Latest data covering the period up to May 2009 show that, in the wake of the economic downturn, EU labour markets continue to deteriorate.
Unemployment is rising, job vacancies are still falling and companies continue to announce substantial job reductions across several sectors. However, while the outlook for the coming months remains bleak, there are some tentative signs that the pace of deterioration may be moderating. The number of announced job losses observed in April-May has halved compared to the preceding months. Economic sentiment including firms' employment expectations and consumers' unemployment expectations, although it remains pessimistic, improved after deteriorating for more than two years