Presentation of the project 'Employment flash estimates' TF Employment flash estimates Luxembourg, 28-29 March 2017 Item 2 TF EMP-FL - 28/29.3.17 - Item 2

Contents Background Purpose of the project Main elements of the project To be decided soon… Who does what? TF EMP-FL - 28/29.3.17 - Item 2

1. Background Policy need for more timely employment data Confirmed by Commission service DG ECFIN and ECB: Facilitate more timely policy reactions to unexpected developments Important for forecasting purposes Useful information for ECB Governing Council Current availability at t+75 days too late for PEEI purposes Encouraging results employment flash questionnaire TF EMP-FL - 28/29.3.17 - Item 2

2. Purpose of the project Assess the feasibility of producing and publishing a euro area and EU employment flash estimate at 45 days after the end of the reference quarter (or earlier) EA/EU estimates in principle based on Member States national estimates TF EMP-FL - 28/29.3.17 - Item 2

3. Main elements of the project Exchange knowledge between Member States on estimation methods and practices Preparation of real-time and retrospective national test estimates at/before t+45 Preparation of real-time and retrospective euro area and EU test estimates at/before t+45 Preparation of quality criteria to assess test estimates Assessment of test results and preparation of final report Decision to go live or not TF EMP-FL - 28/29.3.17 - Item 2

4. To be decided soon… Timeliness: t+45 days or earlier (t+30)? Item 3 Variable(s) to be covered Item 8 Reporting template test estimates Guidance document for national estimations? Item 7 Time schedule Item 10 TF EMP-FL - 28/29.3.17 - Item 2

5. Who does what (1)? Eurostat Project management Organise meetings, agenda, minutes, documents Making all information available on CIRCABC Report progress to NAWG, DMES, etc. Approaching countries not represented in TF: Request to contribute by providing test estimates If not possible, prepare indicators for missing countries TF EMP-FL - 28/29.3.17 - Item 2

5. Who does what (2)? Eurostat (cont.) Co-development of quality criteria Preparation of euro area en EU test estimates Preparation of methodology for euro area and EU employment estimates If successful, prepare a joint communication plan for the first release TF EMP-FL - 28/29.3.17 - Item 2

5. Who does what (3)? TF members Sharing practices on estimation methods and practices in the meetings (country presentations) Preparation of quarterly national employment flash estimates and transmit them in reporting template Preparation with TF-colleagues of a guidance documents on recommended methods (?) Co-development of quality criteria TF EMP-FL - 28/29.3.17 - Item 2

Presentation of the project 'Employment flash estimates' TF Employment flash estimates Luxembourg, 28-29 March 2017 Item 2