The European Central Bank on
Thursday revised its eurozone real GDP growth forecast for 2017
up to 2.2% from 1.9% and credited the contributed of migrants
and women for boosting the labour force.
"Immigration has made a large positive contribution to the
working age population during the recovery, reflecting primarily
the inflow of workers from new EU Member States," the ECB said
in its economic bulletin.
"This is likely to also have had a significant impact on the
labour force, particularly in Germany and Italy, but also in
some smaller euro area economies...
"Continuing a long-term trend, the increase in the labour
force during the economic recovery has been driven by the
participation of women.
"While the increasing share of the older age groups is
characteristic of both genders, for women, growth in the
participation rate over the course of the recovery has been
larger and the decline in the prime-age labour force has been
smaller".
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