The year-on-year rate of increase in the Labour Force Survey-based number of employees accelerated to the range of 2.0-3.0 percent, and against this backdrop, the active job openings-to-applicants ratio has risen steadily.
See the article entitled “What is behind the recent rebound in euro area employment?”, Economic Bulletin, Issue 8, ECB, 2015. 31 See Banco de España (2015), “Competitive adjustment and recovery in the Spanish economy”, Annual Report,  Box 2, pp. 39–63; Vansteenkiste, I. (2017), “Did the crisis permanently scar the Portuguese labour market? Evidence from a Markov-switching Beveridge curve analysis”, Working Paper Series, No.