| AutorIn 1: | ||
| Arpaia, Alfonso | ||
| AutorIn 2: | ||
| Curci, Nicola | ||
| HerausgeberIn 1: | ||
| European Commission, Directorate-General for Economic and Financial Affairs | ||
| Titel: | ||
| EU labour market behaviour during the Great Recession | ||
| Ort: | ||
| Brussels | ||
| Jahr: | ||
| 2010 | ||
| Reihe: | ||
| Economic Papers 405| February | ||
| Abstract: | ||
| "(...) This paper provides an analysis of the labour market adjustment to the 2008-2009 recession in terms of employment, unemployment, hours worked and wages. It highlights differences in
the response of employment and unemployment across countries and different socioeconomic
groups. For all EU Member States, it provides evidence of the developments during the crisis
of the monthly job finding and separation rates. This helps to assess whether the increase in
unemployment is due to an increase of job separation or to a decline in the job finding rate.
The paper discusses the risks of jobless growth and compares the dynamics of unemployment
and employment across different periods. It provides evidence of an asymmetric response
over the cycle, with recessions being characterised by more job destruction than by job
creation in the following recoveries. The analysis of the wage dynamics during the recession
suggests that there has been an adjustment in the compensation per employee led by the
variable component; yet, this has not been sufficient to avoid the increase in the nominal unit
labour costs due to labour hoarding. (...)" [Unemployment, Workers' flows, job separation, job finding rate, Okun's law] | ||
Download: hier klicken (PDF 616 KB) | ||