MARRAKECH, Oct 14 (Reuters) – The euro zone labour
market shows no sign of softening, despite a near recessionary
environment and a record string of interest rate hikes, European
Central Bank (ECB) President Christine Lagarde said on Saturday.
“The labor market still shows no real sign of weakening,”
Lagarde told a conference. “The numbers we see both in terms of
actual participation in the unemployment and unemployment in
nominal numbers are quite striking.”
The ECB has been raising rates to dampen demand and
persistently low unemployment is a key reason why some
policymakers worry that high inflation could get stuck above
target as workers enjoy the some of the best wage growth in
years.
(Reporting by Balazs Koranyi
Editing by Mark Potter)
