Foreign Workers Boosting Eurozone Economy: ECB's Lagarde

Sumaira FH Published August 23, 2025 | 10:45 PM

(UrduPoint / Pakistan Point News / WAM - 23rd Aug, 2025) WYOMING, United States, 23rd August, 2025 (WAM) – Foreign workers have significantly bolstered the eurozone economy, according to European Central Bank (ECB) President Christine Lagarde.

Speaking on Saturday, Lagarde stated that an influx of foreign labor has helped to offset challenges like shorter working hours and declining real wages in some sectors.

In a speech at the US Federal Reserve's annual symposium in Jackson Hole, Wyoming, Lagarde noted that while foreign workers made up only about 9% of the total labour force in 2022, they accounted for half of its growth over the past three years.

"Without this contribution, labour market conditions could be tighter and output lower," she said.