Compared with the equivalent US commercial paper market, which has an outstanding amount of around EUR 1.3 trillion and which is indeed integrated, the aggregate size of the commercial paper and certificates of deposit markets in Europe is around EUR 0.8 trillion. Furthermore, these markets remain segmented within Europe.
Outlook  2/4  BIS -  The labor market remains strong, as can be seen across a variety of measures, from the low unemployment rate to the high quits rate, which illustrates the confidence of workers who are willing to leave their jobs in pursuit of better ones.