The indicator shows the percentage of unemployed population relative to the entire employable population.
High unemployment affects the reduction of average wages and expenses of the consumers. Since the consumers’ expenses represent the major part of all expenses, increasing unemployment often leads to deceleration of economic growth. It is also worth mentioning that high unemployment rate or its growth can cause the reduction of rates by the central bank with the purpose to improve the situation on the labor market.
Вплив на ринок
The index has a strong influence on the dynamics of the euro.
The fall in the unemployment rate is positive for the European currency.