The U.S. federal funds effective rate underwent a dramatic reduction in early 2020 in response to the COVID-19 pandemic. The rate plummeted from 1.58 percent in February 2020 to 0.65 percent in March, and further decreased to 0.05 percent in April. This sharp reduction, accompanied by the Federal Reserve's quantitative easing program, was implemented to stabilize the economy during the global health crisis. After maintaining historically low rates for nearly two years, the Federal Reserve began a series of rate hikes in early 2022, with the rate moving from 0.33 percent in April 2022 to 5.33 percent in August 2023. The rate remained unchanged for over a year, before the Federal Reserve initiated its first rate cut in nearly three years in September 2024, bringing the rate to 5.13 percent. By December 2024, the rate was cut to 4.48 percent, signaling a shift in monetary policy in the second half of 2024. In January 2025, the Federal Reserve implemented another cut, setting the rate at 4.33 percent, which remained unchanged throughout the following months. What is the federal funds effective rate? The U.S. federal funds effective rate determines the interest rate paid by depository institutions, such as banks and credit unions, that lend reserve balances to other depository institutions overnight. Changing the effective rate in times of crisis is a common way to stimulate the economy, as it has a significant impact on the whole economy, such as economic growth, employment, and inflation. Central bank policy rates The adjustment of interest rates in response to the COVID-19 pandemic was a coordinated global effort. In early 2020, central banks worldwide implemented aggressive monetary easing policies to combat the economic crisis. The U.S. Federal Reserve's dramatic reduction of its federal funds rate - from 1.58 percent in February 2020 to 0.05 percent by April - mirrored similar actions taken by central banks globally. While these low rates remained in place throughout 2021, mounting inflationary pressures led to a synchronized tightening cycle beginning in 2022, with central banks pushing rates to multi-year highs. By mid-2024, as inflation moderated across major economies, central banks began implementing their first rate cuts in several years, with the U.S. Federal Reserve, Bank of England, and European Central Bank all easing monetary policy.

Unemployment Rate in the United States decreased to 4.10 percent in June from 4.20 percent in May of 2025. This dataset provides the latest reported value for - United States Unemployment Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

The Volcker Shock was a period of historically high interest rates precipitated by Federal Reserve Chairperson Paul Volcker's decision to raise the central bank's key interest rate, the Fed funds effective rate, during the first three years of his term. Volcker was appointed chairperson of the Fed in August 1979 by President Jimmy Carter, as replacement for William Miller, who Carter had made his treasury secretary. Volcker was one of the most hawkish (supportive of tighter monetary policy to stem inflation) members of the Federal Reserve's committee, and quickly set about changing the course of monetary policy in the U.S. in order to quell inflation. The Volcker Shock is remembered for bringing an end to over a decade of high inflation in the United States, prompting a deep recession and high unemployment, and for spurring on debt defaults among developing countries in Latin America who had borrowed in U.S. dollars.

Monetary tightening and the recessions of the early '80s

Beginning in October 1979, Volcker's Fed tightened monetary policy by raising interest rates. This decision had the effect of depressing demand and slowing down the U.S. economy, as credit became more expensive for households and businesses. The Fed funds rate, the key overnight rate at which banks lend their excess reserves to each other, rose as high as 17.6 percent in early 1980. The rate was allowed to fall back below 10 percent following this first peak, however, due to worries that inflation was not falling fast enough, a second cycle of monetary tightening was embarked upon starting in August of 1980. The rate would reach its all-time peak in June of 1981, at 19.1 percent. The second recession sparked by these hikes was far deeper than the 1980 recession, with unemployment peaking at 10.8 percent in December 1980, the highest level since The Great Depression. This recession would drive inflation to a low point during Volcker's terms of 2.5 percent in August 1983.

The legacy of the Volcker Shock

By the end of Volcker's terms as Fed Chair, inflation was at a manageable rate of around four percent, while unemployment had fallen under six percent, as the economy grew and business confidence returned. While supporters of Volcker's actions point to these numbers as proof of the efficacy of his actions, critics have claimed that there were less harmful ways that inflation could have been brought under control. The recessions of the early 1980s are cited as accelerating deindustrialization in the U.S., as manufacturing jobs lost in 'rust belt' states such as Michigan, Ohio, and Pennsylvania never returned during the years of recovery. The Volcker Shock was also a driving factor behind the Latin American debt crises of the 1980s, as governments in the region defaulted on debts which they had incurred in U.S. dollars. Debates about the validity of using interest rate hikes to get inflation under control have recently re-emerged due to the inflationary pressures facing the U.S. following the Coronavirus pandemic and the Federal Reserve's subsequent decision to embark on a course of monetary tightening.

The inflation rate in the United States declined significantly between June 2022 and May 2025, despite rising inflationary pressures towards the end of 2024. The peak inflation rate was recorded in June 2022, at *** percent. In August 2023, the Federal Reserve's interest rate hit its highest level during the observed period, at **** percent, and remained unchanged until September 2024, when the Federal Reserve implemented its first rate cut since September 2021. By January 2025, the rate dropped to **** percent, signalling a shift in monetary policy. What is the Federal Reserve interest rate? The Federal Reserve interest rate, or the federal funds rate, is the rate at which banks and credit unions lend to and borrow from each other. It is one of the Federal Reserve's key tools for maintaining strong employment rates, stable prices, and reasonable interest rates. The rate is determined by the Federal Reserve and adjusted eight times a year, though it can be changed through emergency meetings during times of crisis. The Fed doesn't directly control the interest rate but sets a target rate. It then uses open market operations to influence rates toward this target. Ways of measuring inflation Inflation is typically measured using several methods, with the most common being the Consumer Price Index (CPI). The CPI tracks the price of a fixed basket of goods and services over time, providing a measure of the price changes consumers face. At the end of 2023, the CPI in the United States was ****** percent, up from ****** a year earlier. A more business-focused measure is the producer price index (PPI), which represents the costs of firms.

Policy interest rates in the U.S. and Europe are forecasted to decrease gradually between 2024 and 2027, following exceptional increases triggered by soaring inflation between 2021 and 2023. The U.S. federal funds rate stood at **** percent at the end of 2023, the European Central Bank deposit rate at **** percent, and the Swiss National Bank policy rate at **** percent. With inflationary pressures stabilizing, policy interest rates are forecast to decrease in each observed region. The U.S. federal funds rate is expected to decrease to *** percent, the ECB refi rate to **** percent, the Bank of England bank rate to **** percent, and the Swiss National Bank policy rate to **** percent by 2025. An interesting aspect to note is the impact of these interest rate changes on various economic factors such as growth, employment, and inflation. The impact of central bank policy rates The U.S. federal funds effective rate, crucial in determining the interest rate paid by depository institutions, experienced drastic changes in response to the COVID-19 pandemic. The subsequent slight changes in the effective rate reflected the efforts to stimulate the economy and manage economic factors such as inflation. Such fluctuations in the federal funds rate have had a significant impact on the overall economy. The European Central Bank's decision to cut its fixed interest rate in June 2024 for the first time since 2016 marked a significant shift in attitude towards economic conditions. The reasons behind the fluctuations in the ECB's interest rate reflect its mandate to ensure price stability and manage inflation, shedding light on the complex interplay between interest rates and economic factors. Inflation and real interest rates The relationship between inflation and interest rates is critical in understanding the actions of central banks. Central banks' efforts to manage inflation through interest rate adjustments reveal the intricate balance between economic growth and inflation. Additionally, the concept of real interest rates, adjusted for inflation, provides valuable insights into the impact of inflation on the economy.

August 2024 marked a significant shift in the UK's monetary policy, as it saw the first reduction in the official bank base interest rate since August 2023. This change came after a period of consistent rate hikes that began in late 2021. In a bid to minimize the economic effects of the COVID-19 pandemic, the Bank of England cut the official bank base rate in March 2020 to a record low of *** percent. This historic low came just one week after the Bank of England cut rates from **** percent to **** percent in a bid to prevent mass job cuts in the United Kingdom. It remained at *** percent until December 2021 and was increased to one percent in May 2022 and to **** percent in October 2022. After that, the bank rate increased almost on a monthly basis, reaching **** percent in August 2023. It wasn't until August 2024 that the first rate decrease since the previous year occurred, signaling a potential shift in monetary policy. Why do central banks adjust interest rates? Central banks, including the Bank of England, adjust interest rates to manage economic stability and control inflation. Their strategies involve a delicate balance between two main approaches. When central banks raise interest rates, their goal is to cool down an overheated economy. Higher rates curb excessive spending and borrowing, which helps to prevent runaway inflation. This approach is typically used when the economy is growing too quickly or when inflation is rising above desired levels. Conversely, when central banks lower interest rates, they aim to encourage borrowing and investment. This strategy is employed to stimulate economic growth during periods of slowdown or recession. Lower rates make it cheaper for businesses and individuals to borrow money, which can lead to increased spending and investment. This dual approach allows central banks to maintain a balance between promoting growth and controlling inflation, ensuring long-term economic stability. Additionally, adjusting interest rates can influence currency values, impacting international trade and investment flows, further underscoring their critical role in a nation's economic health. Recent interest rate trends Between 2021 and 2024, most advanced and emerging economies experienced a period of regular interest rate hikes. This trend was driven by several factors, including persistent supply chain disruptions, high energy prices, and robust demand pressures. These elements combined to create significant inflationary trends, prompting central banks to raise rates in an effort to temper spending and borrowing. However, in 2024, a shift began to occur in global monetary policy. The European Central Bank (ECB) was among the first major central banks to reverse this trend by cutting interest rates. This move signaled a change in approach aimed at addressing growing economic slowdowns and supporting growth.

In 2023, it was estimated that over 161 million Americans were in some form of employment, while 3.64 percent of the total workforce was unemployed. This was the lowest unemployment rate since the 1950s, although these figures are expected to rise in 2023 and beyond. 1980s-2010s Since the 1980s, the total United States labor force has generally risen as the population has grown, however, the annual average unemployment rate has fluctuated significantly, usually increasing in times of crisis, before falling more slowly during periods of recovery and economic stability. For example, unemployment peaked at 9.7 percent during the early 1980s recession, which was largely caused by the ripple effects of the Iranian Revolution on global oil prices and inflation. Other notable spikes came during the early 1990s; again, largely due to inflation caused by another oil shock, and during the early 2000s recession. The Great Recession then saw the U.S. unemployment rate soar to 9.6 percent, following the collapse of the U.S. housing market and its impact on the banking sector, and it was not until 2016 that unemployment returned to pre-recession levels. 2020s 2019 had marked a decade-long low in unemployment, before the economic impact of the Covid-19 pandemic saw the sharpest year-on-year increase in unemployment since the Great Depression, and the total number of workers fell by almost 10 million people. Despite the continuation of the pandemic in the years that followed, alongside the associated supply-chain issues and onset of the inflation crisis, unemployment reached just 3.67 percent in 2022 - current projections are for this figure to rise in 2023 and the years that follow, although these forecasts are subject to change if recent years are anything to go by.

Unemployment Rate in Brazil decreased to 5.80 percent in June from 6.20 percent in May of 2025. This dataset provides the latest reported value for - Brazil Unemployment Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Employment placement agencies in Europe’s revenue is anticipated to contract at a compound annual rate of 3.2% over the five years through 2024 to €47.8 billion. The COVID-19 outbreak tanked business confidence and expansion plans because of economic uncertainty after months of global lockdowns, forcing hiring freezes in a tricky time for employment agencies. 2022 marked a resurgence for agencies. According to Eurostat data, employment in the EU reached a record peak of 74.6% in 2022, with unemployment falling month-on-month to 5.9% in August 2023. Companies enjoyed a post-COVID-19 boom in hiring, as the economy reopened and company’s began to look to expand thanks to improved business confidence which kept employment agencies busy. The labour market has proved resilient against the economic background of rising interest rates and high inflation but remains tight with several unfilled vacancies. Vacancies remain well above pre-pandemic levels but have steadily dipped from the sharp rise post-COVID-19 as companies unfroze hiring decisions, indicating a skills mismatch between job seekers and roles that agencies are struggling to negotiate. Several countries attempt to address long-standing labour shortages to ameliorate professional mobility and offer training courses for in-demand skills through agencies. France, for example, is addressing youth unemployment through upskilling training programmes. Public sector hiring in Germany and Spain in health and education also pushes revenue growth for agencies compared to stunted private sector demand. Revenue is expected to slump by 1.3% in 2024 amid job cuts in the technology sector. Revenue is projected to swell at a compound annual rate of 4.3% over the five years through 2029 to reach €58.9 billion. Agencies will continue to target revenue growth by elevating their online presence, specialising their services towards more niche sectors and targeting executives and upper management positions. Technological developments remain a threat to recruiters, with HR AI systems like Paradox able to scan networking platforms such as LinkedIn for candidates. Companies’ in-house HR teams are expanding too. The sustainability sector looks to be a hot property job market to target, but potential shortages in both high and low-skilled occupations driven by employment growth in STEM professions and healthcare will create hurdles in the hiring process in other sectors.

The Inflation Reduction Act of 2022 (IRA) became law on August 8, 2022. Under the law, new qualifying renewable and/or carbon-free electricity generation projects constructed in certain areas of the US, called energy communities, are eligible for bonus worth an additional 10% to the value of the production tax credit or a 10 percentage point increase in the value of the investment tax credit. The IRA does not explicitly map or list these specific communities. Instead, eligible communities are defined by a series of qualifications:

1. a brownfield site,
2. a metropolitan statistical area (MSA) or non-metropolitan statistical area with either (a) 0.17% or greater employment or (b) 25% or greater local tax revenues related to the extraction, processing, transport, or storage of coal, oil, or natural gas; and an unemployment rate at or above the national average for the previous year, or
3. a census tract containing or adjacent to (a) a coal mine closed after December 31, 1999 or (b) a coal-fired electric generating unit retired after December 31, 2009.

These maps and data layers contain GIS data for coal mines, coal-fired power plants, fossil energy related employment, and brownfield sites. Each record represents a point, tract or metropolitan statistical area and non-metropolitan statistical area with attributes including plant type, operating information, GEOID, etc. The input data used includes:

1. Brownfields – Source: EPA. No analysis was performed on this data layer. However, tract polygon layers have a column denoting brownfield presence (0 for no brownfield site, 1 if the tract contains a brownfield somewhere within the polygon).
2. Eligible Employment MSAs (“Final_Employment_Qualifying_MSAs”) – Source: US Census County Business Patterns. MSAs and non-MSA regions with employment over 0.17% in the fossil fuel industry (defined here as NAICS codes 211, 2121, 213, 23712, 324, 4247, and 486) and unemployment greater than or equal to 3.9% (the average national unemployment rate in 2021, according to the Bureau of Labor Statistics).

--Possibly Eligible MSAs (“FossilFuel_Employment_Qualifying_MSAs”) are MSA and non-MSA regions that meet or exceed the 0.17% employment in the fossil fuel industry threshold but do not exceed the unemployment threshold.

--Relevant columns include:

a) SUM_nhgis0: Total employment in 2020.

b) SUM_nhgis1: Total unemployment in 2020.

c) P_Unemp: Percent unemployment in 2020.

d) Q_Unemp: Boolean column indicating if the MSA or non-MSA’s unemployment rate is at or above the national average of 3.9%.

e) FF_Qual: Boolean column indicating if the MSA or non-MSA had employment in the fossil fuel industry at or above 0.17% in the past 11 years.

f) final_Qual: Boolean column indicating if an MSA or non-MSA qualifies for both unemployment rate and fossil fuel employment under the IRA.

1. Retired Power Plants – Source: EIA via HFLID. Qualifying power plants were selected by use of coal in at least one generator, and if they were retired (RET_DATE) on or after January 1, 2010. This data goes through December 2021.

--Adjacent tract data was derived by Cecelia Isaac using ESRI ArcGIS Pro.

1. Abandoned Coal Mines – Source: MSHA. Mines labeled “Abandoned”, “Abandoned and Sealed” or “NonProducing” between January 1, 2000 and September 2022.

--Adjacent tract data was derived by Cecelia Isaac using ESRI ArcGIS Pro.

5) US State Borders– Source: IPUMS NHGIS.

Also included here are polygon shapefiles for Onshore Wind and Solar Candidate Project Areas from Princeton REPEAT. These files have been updated to include columns related to the energy communities.

New columns include:

1. CoalPlantTract: Boolean column indicating if the CPA is within a tract that qualifies because of a retired coal plant.
2. CoalMineTract: Boolean column indicating if the CPA is within a tract that qualifies because of a closed coal mine.
3. FossilFuelEmp: Boolean column indicating if the CPA is within an MSA or non-MSA with greater than or equal to 0.17% employment in the fossil fuel industry.
4. UnempQualification: Boolean column indicating if the CPA is within an MSA or non-MSA with greater than or equal to 0.17% employment in the fossil fuel industry.
5. MSA_non_to: The code of the MSA or non-MSA area that contains the CPA.
6. P_Unemp: The percent unemployment of the MSA or non-MSA that contains the CPA in 2021.

Unemployment rate, participation rate, and employment rate by educational attainment, gender and age group, annual.

Unemployment Rate in Germany remained unchanged at 6.30 percent in July. This dataset provides the latest reported value for - Germany Unemployment Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

This paper employs a computable general equilibrium model (CGE) to analyse how a carbon tax and/or a national Emissions Trading System (ETS) would affect macroeconomic parameters in Turkey. The modelling work is based on three main policy options for the government by 2030, in the context of Turkey’s mitigation target under its Intended Nationally Determined Contribution (INDC), that is, reducing greenhouse gas (GHG) emissions by up to 21% from its Business as Usual (BAU) scenario in 2030: (i) improving the productivity of renewable energy by 1% per annum, a target already included in the INDC, (ii) introducing a new flat rate tax of 15% per ton of CO2 (of a reference carbon price in world markets) imposed on emissions originating from carbon-intensive sectors, and (iii) introducing a new ETS with caps on emission permits. Our base path scenario projects that GHG emissions in 2030 will be much lower than Turkey’s BAU trajectory of growth from 430 Mt CO2-eq in 2013 to 1.175 Mt CO2-eq by 2030, implying that the government’s commitment is largely redundant. On the other hand, if the official target is assumed to be only a simple reduction percentage in 2030 (by 21%), but based on our more realistic base path, the government’s current renewable energy plans will not be sufficient to reach it. Turkey’s official INDC is based on over-optimistic assumptions of GDP growth and a highly carbon-intensive development pathway;A carbon tax and/or an ETS would be required to reach the 21% reduction target over a realistic base path scenario for 2030;The policy options considered in this paper have some effects on major sectors’ shares in total value-added. Yet the reduction in the shares of agriculture, industry, and transportation does not go beyond 1%, while the service sector seems to benefit from most of the policy options;Overall employment would be affected positively by the renewable energy target, carbon tax, and ETS through the creation of new jobs;Unemployment rates are lower, economic growth is stronger, and households become better off to a larger extent under an ETS than carbon taxation. Turkey’s official INDC is based on over-optimistic assumptions of GDP growth and a highly carbon-intensive development pathway; A carbon tax and/or an ETS would be required to reach the 21% reduction target over a realistic base path scenario for 2030; The policy options considered in this paper have some effects on major sectors’ shares in total value-added. Yet the reduction in the shares of agriculture, industry, and transportation does not go beyond 1%, while the service sector seems to benefit from most of the policy options; Overall employment would be affected positively by the renewable energy target, carbon tax, and ETS through the creation of new jobs; Unemployment rates are lower, economic growth is stronger, and households become better off to a larger extent under an ETS than carbon taxation.

Public sector employment in China has exhibited pronounced non-cyclical characteristics, with a recruiting scale and wage level showing limited responsiveness to economic fluctuations. The allure of civil service jobs in China has seen a significant resurgence post-COVID-19, with an observable increase in demand among educated job seekers for stable government positions amid growing economic uncertainties. This study investigates the implications of public sector employment rigidity on macroeconomic stability using a dynamic stochastic general equilibrium (DSGE) model integrated with search and matching (S&M) theory. Simulations incorporating alternative government job policies reveal that non-cyclical public employment exacerbates macroeconomic cyclical fluctuations. The low elasticity of public sector wages with respect to corporate wages fosters stable expectations among workers regarding the future value of government jobs, increasing the perceived value of the current state of unemployment. This leads job seekers to voluntarily remain unemployed, reducing labor supply to firms. Meantime, it preserves workers’ bargaining power with firms, reinforcing wage stickiness and undermining the stabilizing role of price adjustments in employment. Hypothetical scenario analyses indicate that adopting a pro-cyclical wage policy for the public sector can mitigate the obstacles of wage cuts for firms, stimulate the creation of new jobs during economic downturns, and consequently reduce the magnitude and duration of rising unemployment rates. In contrast, maintaining a non-cyclical public sector wage may not prevent a continuous rise in unemployment or a worsening economic situation, even with expanded sector recruitment. This finding holds significant relevance in the context of the post-COVID era characterized by an economic slump and employment tension, providing theoretical support for establishing a transparent and flexible wage adjustment mechanism in the public sector that is linked to market conditions.

EI Machine Learning Workload: Achieving Workload Reduction in Employment Insurance Recalculation Processes Recalculation within the context of Employment Insurance (EI) typically occurs when changes in circumstances or new information emerge that could impact the accuracy of benefit calculations. Recalculation falls under a specialized category of EI claims aimed at correcting previously determined benefits. During the recalculation process, the program implements specific measures based on the outcomes: - In instances of underpayment, where the initial benefit rate or weeks of entitlement were underestimated, the claim is adjusted to compensate for the financial shortfall. - Conversely, in cases of overpayment, where the initial benefit rate or weeks of entitlement were excessive, the claim is reduced to recover the excess amount. - When no changes are identified, indicating that the initial benefit rate and weeks of entitlement were accurate, the claim remains unchanged. The primary objective of the EI Machine Learning Workload is to reduce the time spent by officers on claim reviews by identifying cases where a recalculation will not result in any change. This approach allows officers to focus on more intricate reviews that require intervention and precision to ensure clients receive the correct benefit rate and entitlement. This initiative has been implemented in accordance with the guidelines delineated in the Treasury Board of Canada Secretariat (TBS) Directive on Automated Decision Making (ADM). These regulations guarantee that the integration of Artificial Intelligence in government programs and services is guided by transparent values, ethics, and legal standards. In alignment with these principles, numerous approvals have been secured, and a wide array of stakeholders, including the Chief Data Office, Privacy Management Division, IT Security, Legal Services, Accessibility, Architecture IT Systems, and the Unions, have been consulted. The EI program will continue with the utilization and testing of the EI Machine Learning workload to systematically decrease inventories in the coming years. This strategic approach not only facilitates inventory management but also empowers EI officers to redirect their focus toward more substantive tasks. A Random Forest model is employed for these runs, but other approaches may be considered in the future, in which case this page will be updated.

Data derived from weekly public opinion polls in the Netherlands in 1982 concerning social and political issues. Samples were drawn from the Dutch population aged 18 years and older.All data from the surveys held between 1962 and 2000 are available in the DANS data collections.Background variables 1982:Sex / age / religion / income / vote recall latest elections / party preference / level of education / union membership / professional status / < self > left‐right rating / party alignment / province / degree of urbanization / weight factor.Topical variables:n8201: Wage control expected income this year / Income less or higher than last year / Satisfaction with income / Making ends meet / Respondent's opinion on government's wage control / Confidence in Van Agt, Den Uyl, Terlouw, Wiegel / Respondents' opinion on present government.n8202: Profit rate, Poland, war profit rate at company where respondent is working / Profit rate of most of Dutch industry too high or too low / Respondent agrees with contention profit rate of most companies is too low / Should Polish trade- union Solidarity resist or obey Polish government / Military counterbalance needed in West-Europe against USSR and East-Europe / Should Holland stay in NATO or get out / In case of total war should Holland defend itself or rather surrender / Accept a Russian occupation or defend itself at all risks / Respondent's estimate of own chances of survival in case of war in Europe.n8203: Confidence in Labour Party / Changes in sick benefit / Sickness during last winter / How many days respondent could not work because he was ill / Sick days were paid / Holland and other European countries should take measures against USSR and Poland / Should Polish trade union solidarity continue its resistance or stop all action / Respondent heard or read about government plans to reduce sick pay to 80 percent of salary / Should these plans be carried out / Would respondent participate in actions like strikes against these cuts in sick benefit / Confidence in Van Agt, Terlouw, Wiegel, Labour Party.n8205: Labour Party / If member of Labour Party would respondent leave this party now / If new Labour Party would be founded would respondent vote for it.n8206: Confidence in labour politicians / Did anything happen which changed respondents' opinion on CDA, D66, VVD, PvdA / Changes in opinion on PvdA by the stand taken by PvdA administration / Cuts in sick benefit / Employment plan of Den Uyl / The stand of PvdA on nuclear energy / Confidence in Den Uyl, Van der Louw, Van Dam / Respondent expects plans on cuts in sick benefit will be carried out / Respondent expects social insurance payments will continue to be indexed to minimum wage / Importance of work in respondents' life.n8207: Awareness coming elections / next leader PvdA / Respondent knows when next elections will be / These will be national, provincial or local elections / Respondent will go and vote next provincial elections, March 24th / Respondent is sure which party he will vote for / Which parties should leave present coalition of CDA, PvdA and D66 / Should other party get in government Van Agt / Who will be next leader of PvdA / Clearness of present position of PvdA, D66, CDA, VVD / Confidence in president Reagan.n8208: Confidence in Van Agt, Terlouw, Den Uyl, Wiegel / Where will Spain end on the list at world championship soccer / Respondent likes soccer.n8209: Provincial elections / Profit rate / Constitution / Will respondent go and vote next provincial elections / Which party will he vote for / Profit rate at company where respondent works / Profit rate in most of Dutch industry too low or too high / Profit making is absolutely necessary or not allowed / What is a fair net profit in terms of percentage from selling prices / Should managers, designers etc. earn a lot / Respondent agrees or disagrees with article 7 of Dutch constitution referring to freedom of the press / Respondent agrees or disagrees with other articles of Dutch constitution.n8211: Provincial elections / Plan for creating jobs / Changes in sick pay / Will respondent go and vote next provincial elections / Which party will he vote for / Profit rate at company where respondent is working / How many jobs will be created according to plan Den Uyl / Respondent knows what this plan will cost / Respondent thinks it is right to raise taxes for financing plan Den Uyl / Will this plan succeed in reducing unemployment / Will respondent himself or someone in family benefit from this plan / Did respondent join strike for plans to change sick benefit / Changes in sick benefit will be detrimental for himself / Is there someone seriously disabled within family, relatives, friends / Would respondent be prepared to pay 1 percent more in transport costs in favour of seriously disabled persons.n8212: Provincial elections / Taxes / Which political parties will lose or win a lot next provincial elections / What makes respondent think so friends or forecasts...

In the last five years, the industry has experienced countervailing trends. For most of the period, rising assets under management (AUM) due to rising asset prices and growing disposable income have increased the base of assets industry operators charge fees on. Increased investor preference for passive asset management, including through exchange-traded funds (ETFs), has driven expenses charged for the management of assets down during the period. Financial markets play an integral role in AUM growth and, consequently, base and performance fees earned by managers. Growth in financial markets was supported by vital macroeconomic variables rising during the majority of the current period, including employment and disposable income levels. Market indices, such as the S&P 500, demonstrated strong growth as these variables increased. In addition, interest rates have climbed significantly over the past five years, which has increased interest income from fixed-income securities such as bonds, although interest rates have been slashed in the latter part of the current period. As interest rates fall, investment funds will shift from fixed-income securities into equities. Portfolio management and investment advice revenue has grown at a CAGR of 6.4% to $579.1 billion over the past five years, including a 3.4% rise in 2025 alone. However, profit has fallen slightly to 29.9% of revenue in the same year. Portfolio management and investment advice revenue are expected to climb at a CAGR of 2.7% to $661.3 billion over the five years to 2030. The beginning of the outlook period is expected to be marred by the anticipated rate cuts by the Federal Reserve as inflationary pressures continue to ease. The FED will monitor inflation, employment, potential tariffs and other economic factors before cutting interest rates at the onset of the outlook period. Customer preferences towards low to zero fees will persist, forcing the portfolio management and investment advising industry to change.

Employment placement agencies in Europe’s revenue is anticipated to contract at a compound annual rate of 3.2% over the five years through 2024 to €47.8 billion. The COVID-19 outbreak tanked business confidence and expansion plans because of economic uncertainty after months of global lockdowns, forcing hiring freezes in a tricky time for employment agencies. 2022 marked a resurgence for agencies. According to Eurostat data, employment in the EU reached a record peak of 74.6% in 2022, with unemployment falling month-on-month to 5.9% in August 2023. Companies enjoyed a post-COVID-19 boom in hiring, as the economy reopened and company’s began to look to expand thanks to improved business confidence which kept employment agencies busy. The labour market has proved resilient against the economic background of rising interest rates and high inflation but remains tight with several unfilled vacancies. Vacancies remain well above pre-pandemic levels but have steadily dipped from the sharp rise post-COVID-19 as companies unfroze hiring decisions, indicating a skills mismatch between job seekers and roles that agencies are struggling to negotiate. Several countries attempt to address long-standing labour shortages to ameliorate professional mobility and offer training courses for in-demand skills through agencies. France, for example, is addressing youth unemployment through upskilling training programmes. Public sector hiring in Germany and Spain in health and education also pushes revenue growth for agencies compared to stunted private sector demand. Revenue is expected to slump by 1.3% in 2024 amid job cuts in the technology sector. Revenue is projected to swell at a compound annual rate of 4.3% over the five years through 2029 to reach €58.9 billion. Agencies will continue to target revenue growth by elevating their online presence, specialising their services towards more niche sectors and targeting executives and upper management positions. Technological developments remain a threat to recruiters, with HR AI systems like Paradox able to scan networking platforms such as LinkedIn for candidates. Companies’ in-house HR teams are expanding too. The sustainability sector looks to be a hot property job market to target, but potential shortages in both high and low-skilled occupations driven by employment growth in STEM professions and healthcare will create hurdles in the hiring process in other sectors.

Graph and download economic data for All Employees, Manufacturing (MANEMP) from Jan 1939 to Jun 2025 about headline figure, establishment survey, manufacturing, employment, and USA.