That is down quite a bit from the monthly increase of 539,000 in the first quarter of 2022 but still a solid growth rate, far above the number of new jobs needed to keep pace with population growth. Employment grew robustly in the leisure and health-care sectors, where labor shortages are reportedly severe. While the labor market is strong, it is also tight.
Figure 1 illustrates the repayment plan for the loans issued by the ESM, whose residual lending capacity is currently just over € billion (Figure 2). 6  3.