How strong is Europe's labour market really?

At a glance, recent reports seem rather positive: European unemployment is at its lowest point in years. The euro is rising to record highs. It seems

the economy, indeed, is firing on all cylinders.

But as far as labour market statistics go, EU politicians - and often the media - seem to be picking and choosing figures to paint a rosy picture, with rare mention of at least two obstacles that are preventing true growth and labour market strength.

First, real market strength w...