Key points:

  • Job postings remain higher in the Euro Area relative to the pre-pandemic baseline, but momentum has slowed, and hiring is concentrated in fewer occupational categories.
  • Risks, including elevated policy uncertainty and skyrocketing oil prices, cloud the outlook for a meaningful improvement in labour markets.

See our full European Labour Market Overview chartbook for a more comprehensive view of the European labour market. 

Job postings in Europe have resumed their years-long decline after a period of stabilisation last fall. Even as openings move lower, Euro Area postings remain about 9% higher than the pre-pandemic baseline, leaving European job postings on stronger footing than the US and Canada (where postings are more on par with February 2020 levels). Meanwhile, though the total number of job postings remains elevated in many cases compared to before the pandemic, demand is increasingly concentrated in a shrinking number of occupations.

Line chart showing the indexed level of job postings for Australia, Canada, the Euro Area, the United Kingdom, and the United States, indexed to 1 February 2020 equals 100, through April 24, 2026. All five economies surged well above their pre-pandemic baselines by 2022 before declining. By April 2026, Australia remains the highest at 152 and the Euro Area at 109, while the United States sits just above the baseline at 103 and Canada just below at 99. The United Kingdom has fallen the furthest, reaching 71 — well below its pre-pandemic level.
Line chart titled “Job postings remain above pre-pandemic levels in the Euro Area” showing the indexed level of job postings in the Euro Area and other major global economies from February 2020 to April 2026. Euro Area postings are 9% higher than the pre-pandemic baseline (February 2020), while Canada and the United Kingdom have slipped below that pre-pandemic baseline. 

Hiring is no longer growing across the board. Spain (98%) and Italy (89%) stand out with postings above baseline across a vast majority of occupational categories, but most other countries exhibit a marked narrowing of hiring breadth over the past year. In France (33%) and Ireland (40%), the scope of elevated demand has tightened considerably. Most striking is the United Kingdom (13%), where hiring softness is broad-based, though education & instruction continues to see strength. 

Line chart showing the share of occupational categories with job postings above their pre-pandemic baseline of February 1, 2020, as a 30-day moving average through April 24, 2026, for eight European countries. Most countries held near 100% through 2022–2023 before declining sharply. By April 2026, Spain leads at 98% and Italy at 89%, while the Netherlands sits at 75% and Germany just above the majority threshold at 51%. Belgium at 46%, Ireland at 40%, and France at 33% have fallen below the majority mark, with the United Kingdom the furthest behind at just 13% — meaning nearly nine in ten UK occupational categories now have postings below their pre-pandemic level.
Line chart titled “Almost all occupations in the UK have postings below baseline” showing the share of occupational categories in each country with job postings above the pre-pandemic baseline (01 Feb 2020). Many countries have seen sharp declines in the share since 2025.

Risks, including elevated policy uncertainty and skyrocketing oil prices, cloud the outlook for a meaningful improvement in European labour markets. Measures of economic sentiment and employment expectations both plummeted over April, with a sharp drop in employment plans among managers in services in particular. Still, many pockets of strength (whether occupational, country-specific or AI-related) remain even as the European labour market as a whole continues to cool.

See our full European Labour Market Overview chartbook for a more comprehensive view of the European labour market. Other data, including the Indeed Wage Tracker, is regularly updated and can be accessed on our data portal.