Labour market and wage development in 2005, with special focus on labour market adjustment in the euro area

This report examines recent labour market developments from a macroeconomic perspective, with the aim of shedding light on the interaction of employment trends with others macroeconomic developments such as GDP and productivity growth in 2005. It presents in a comprehensive way the main findings related to recent trends and prospects on both the quantity side - employment, participation, unemployment and labour cost side -wage and unit labour cost developments