Dutch International: Improved employment market in Southern European countries is a sigh of relief for the European Central Bank.

Analysts Carsten Brzeski and Bert Colijn from the Dutch international group stated that the improvement in the job market in Southern European countries - in sharp contrast to their Northern European neighbors - is beneficial for the Eurozone and has also relieved the European Central Bank. Due to the support of the European Investment Fund and the post-pandemic era boom in the tourism industry, the unemployment rates in Southern European economies such as Italy, Spain, and Portugal have been steadily decreasing over the past few quarters. In comparison, the private sector job market in Northern European countries like France and Germany has been weak. These two economists wrote in their research report that the increasing convergence of the Eurozone economies and labor markets will make the European Central Bank's work easier. They pointed out that when the economic trends in Eurozone countries diverge, a unified monetary policy often becomes difficult to implement effectively.