Moreover, the 43.02-million employment posted in January 2022 represented a 1.77-million net employment gain from the level in January 2021. Manufacturing activities are gaining traction. The purchasing manager’s index (PMI) increased by 1.3 percent to a three-year high of 52.8 in February 2022 following easing of quarantine protocols.
According to Article 122 of the Treaty establishing the European Community, the two institutions must report to the Council on the progress made in the fulfilment by the Member States of their obligations regarding the achievement of Economic and Monetary Union, in accordance with the procedure laid down in Article 121 (1).