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Labor Market And The Covid-19 Pandemic

Author

Listed:
  • Brindusa Mihaela RADU

    (Institute for Economic Forecasting – NIER, Romanian Academy)

  • Lia ANTON

    (Academy of Economic Studies from Moldova - Doctoral School)

Abstract

The spread of COVID-19 and the drastic blockages that followed led to the emergence of economies and labor markets around the world in a state of emergency. Governments have had to take a whole series of measures to protect jobs and businesses. In the short term, this means an extreme disruption of citizens and labor markets, as countries impose travel restrictions and blockages nationwide to slow the spread of the virus and prevent overwhelming health services. The coronavirus pandemic has raised the unemployment rate in all European Union countries to alarming levels, with Spain being one of the countries with the highest number of unemployed registered in the last year, according to the latest Eurostat statistics. On the other hand, people in two parts of the Czech Republic are among the lucky ones who have managed to keep their jobs. Labor market volatility is also very noticeable in Romania, where many small and medium-sized businesses have found themselves in a position to lay off staff or to adapt to new trends, by changing the object of activity by 360%. But the full effects of the crisis are still unknown and could last for many years.

Suggested Citation

  • Brindusa Mihaela RADU & Lia ANTON, 2023. "Labor Market And The Covid-19 Pandemic," Internal Auditing and Risk Management, Athenaeum University of Bucharest, vol. 67(2), pages 33-37, May.
    • Handle: RePEc:ath:journl:v:67s:y:2023:i:2:p:33-37
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    More about this item

    Keywords

    labor market; COVID-19 pandemic; employment; vulnerable groups;
    All these keywords.

    JEL classification:

    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • F66 - International Economics - - Economic Impacts of Globalization - - - Labor
    • J10 - Labor and Demographic Economics - - Demographic Economics - - - General
    • J21 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Force and Employment, Size, and Structure
    • J46 - Labor and Demographic Economics - - Particular Labor Markets - - - Informal Labor Market

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