Forty years of productivity and labour market resilience in European regions
Organisation for Economic Co-operation and Development, Paris
OECD Publishing - Paris
2024
49 p.
employment ; economic recession ; regional level
OECD Local Economic and Employment Development Working Papers
2024/08
Employment
https://doi.org/10.1787/3ba1e1e6-en
English
Bibliogr.
"To mark the 40th anniversary of the OECD Local Employment and Economic Development (LEED) Programme, this paper examines determinants and consequences of employment resilience, or lack of, in European NUTS3/TL3/TL3 regions over the last 40 years. Descriptive evidence shows that the least resilient regions (those with the largest percentage drop in employment during a recession) slip to persistently lower post-recession employment-to-population ratio trajectories. On the other hand, regions with higher productivity pre-recession lost proportionally fewer jobs during a recession and were more likely to recover to the pre-recession employment levels (except for the recession induced by the COVID-19 pandemic). Overall, the findings point to the ability of productivity to serve as a shield against negative employment impacts of economic crises."
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