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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
European UnionEurozone Employment Change QoQ fell to 0.1% in Q1 2026
FMPMonthlyReleased May 2026
Eurozone Employment Change QoQ fell to 0.1% in Q1 2026, released May 2026, down 0.1% from December's 0.2% reading. The reading matched the 0.1% consensus. The print is running well below the 12-month average of 0.17%. Over the past 3 months, Employment Change QoQ averaged 0.2%, vs 0.15% in the prior 3-month window. Employment Change QoQ is now the lowest in 54 months.
Latest Release
0.1
Actual
0.1
Consensus
0.2
Previous
Median Absolute Error
±0.05 percentage points
across last 12 releases
Last Call
Mar 2026
Predicted: 0.25
Actual: 0.2
Error: +0.05
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Signal Bias | Action |
|---|---|---|---|---|---|
| EUR/JPY | ▼ Inverse | −0.75 | FOREX | Bearish EUR | → View |
| XAU/USD | ▲ Direct | +0.56 | COMMODITIES | Bullish XAU | → View |
| EUR/CHF | ▼ Inverse | −0.37 | FOREX | Bearish EUR | → View |
| EUR/GBP | ▼ Inverse | −0.37 | FOREX | Bearish EUR | → View |
| BTC/USD | ▲ Direct | +0.33 | CRYPTO | Bullish BTC | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Employment Change QoQ (European Union) was reported at 0.1% in May 2026. This matched the market consensus of 0.1% exactly. The reading fell from the previous value of 0.2%. Trailing 12-month context per ETL data through March 2026. Over the past 12 months, the indicator has averaged 0.16%, ranging from 0.1% to 0.2% across 7 releases.
WHY IT MATTERS
The trailing three releases averaged 0.2%, up from the prior three at 0.1%. Volatility over the past year (σ 0.05%) is lower than the prior year (σ 0.07%). In March readings over the past 3 years, Employment Change QoQ has averaged 0.2%.
THE MODEL'S TAKE
Historically, this indicator is negatively correlated with EUR/JPY (Bearish EUR). A secondary relationship exists with XAU/USD, positively correlated (Bullish XAU). Over the last 12 releases, the Sigmacast model's median absolute error is 0.05%.
WHAT TO WATCH NEXT
Same-country events in the next 14 days include New Car Sales YoY (May 27) and ECB Financial Stability Review (May 27).
Auto-generated from current model state · Refreshes on each release · Last update March 2026.
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Employment Change QoQ - EU
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About Employment Change QoQ — European Union
DEFINITION
Employment Change QoQ (Quarter-over-Quarter) is a financial indicator that measures the percentage change in the number of employed individuals in a given quarter compared to the previous quarter. It provides valuable insights into the current state of the job market and the overall health of the economy. A positive change indicates an increase in employment, while a negative change suggests a decrease. This indicator is closely monitored by investors, policymakers, and analysts as it can impact consumer spending, business growth, and overall economic performance.
WHY THIS INDICATOR MATTERS
This release contributes to the broader macro picture used by cross-asset investors for positioning and risk management. The release is more useful as part of a longer-run signal than as a single-print catalyst. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Jan 2026): actual 0.1 %, consensus 0.1 %. Prior reading (Oct 2025): 0.2 %. Before that (Oct 2025): 0.2 %.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a materially lower reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bearish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary headwind in the current projection. This indicator correlates most strongly with EUR/JPY (Bearish EUR, r=-0.75) — a useful reference for forex-focused traders.