Against the backdrop of continuing adjustment in eu labour markets in response to the great recession and the sovereign debt crisis the european system of central banks escb conducted the third wave of the wage dynamics network wdn survey in 2014 15. In europe labour mobility is a less important adjustment mechanism in response to country specific labour demand shocks that cause stronger and more persistent reactions of the employment and the participation rate however we detect a convergence of the adjustment processes in europe and the us reflecting both a fall in interstate migration in the us and a rise in the role of migration in . Statistics on the labour market are at the heart of many eu policies and are namely used to monitor the europe 2020 strategy the european employment strategy ees the european pillar of social rights and the 2030 agenda for sustainable development they also allow to respond to the requirements of economic and monetary policy in the european union annual statistics make a key contribution . In particular we compare regional and country labour market adjustment in europe with state adjustment in the united states the united states is a natural benchmark for such a comparison because it is a large monetary union of similar size with a well functioning quite homogenous labour market
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