The impact of the COVID-19 pandemic on the euro area labour market
Anderton, Robert ; Botelho, Vasco ; Consolo, Agostino ; da Silva, Antonio Dias ; Foroni, Claudia ; Möhr, Matthias ; Vivian, Lara
2020
8/2020
epidemic disease ; labour market ; employment ; unemployment ; employment security
Labour market
English
Statistics
"The euro area labour market has been severely hit by the coronavirus (COVID-19) pandemic and associated containment measures. Employment and total hours worked declined at the sharpest rates on record. Unemployment increased more slowly and to a lesser extent, reflecting the high take-up rate of job retention schemes and transitions into inactivity. The labour market adjustment occurred primarily via a strong decline in average hours worked. In addition, the labour force declined by about 5 million in the first half of 2020, which is half a million more than its increase between mid-2013 and the fourth quarter of 2019..."
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