ECB’s de Guindos: Labor Market in “Good Position”, Though Job Creation Slower Than Previous Years

27 November 2025

By Marta Vilar – ZARAGOZA, Spain (Econostream) – European Central Bank Vice President said on Thursday that the euro area labor market remains well situated, even if the pace of job creation is weaker than in previous years.

Speaking at the 24th CEDE Congress of Executives in Zaragoza, Spain, de Guindos said that the European economy was performing better than expected a few quarters ago, when uncertainty surrounding the US-EU trade agreement weighed on sentiment.

“At the same time, the labor market is in a good position; unemployment is at a historic low since the euro was created, and jobs are still being created, though not at the pace of a year ago or a couple of years ago, but job creation is nonetheless continuing at a steady pace,” he said.

He described the recent evolution of inflation as “positive”, with both headline and underlying measures now very close to the ECB’s 2% target. Services inflation, previously a major concern for the ECB, was now at levels consistent with price stability, he added.

De Guindos said the current level of interest rates was “adequate” based on the evolution of inflation, the outlook and transmission of monetary policy.