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Employment impact of Covid-19 crisis: from short term effects to long terms prospects
- Source :
- Journal of Industrial and Business Economics
- Publication Year :
- 2020
- Publisher :
- Springer International Publishing, 2020.
-
Abstract
- We contribute to the assessment of the employment implications of the COVID crisis by classifying economic sectors according to the confinement decrees of three European countries (Germany, Spain and Italy). The analysis of these decrees can be used to make a first assessment of the implications of the COVID crisis on labour markets, and also to speculate on mid and long-term developments, since the most and least affected sectors are probably going to continue to operate differently until a vaccine or other long-term solution is found. Using an ad-hoc extraction of EU-LFS data, we apply this classification to the analysis of employment in Germany, Italy and Spain but also UK, Poland and Sweden, in order to cover the whole spectrum of institutional labour market settings within Europe. Our results, in line with recent literature, show that the employment impact is asymmetric within and between countries. In particular, the countries that are being hardest hit by the pandemic itself (Spain and Italy, and also the UK) are the countries more likely to suffer the worst employment implications of the confinement, because of their productive specialisation and labour market institutions. Indeed, these were also the labour markets that were more vulnerable before the crisis: characterised by high unemployment and precarious work (especially temporary contracts).
- Subjects :
- Economics and Econometrics
Entrepreneurship
Coronavirus disease 2019 (COVID-19)
Economic sector
J01
Covid-19 employment impact
General Business, Management and Accounting
Long terms
Labour market
J08
Article
Term (time)
High unemployment
Employment structure
Order (exchange)
Development economics
Economics
Precarious work
Business and International Management
General Economics, Econometrics and Finance
European economy
Subjects
Details
- Language :
- English
- ISSN :
- 19724977 and 03912078
- Database :
- OpenAIRE
- Journal :
- Journal of Industrial and Business Economics
- Accession number :
- edsair.doi.dedup.....9c7087bced1e1fe9eb3fd4884b517a4b