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Labour supply developments in the euro area during the COVID-19 pandemic

Author

Listed:
  • Bodnár, Katalin
  • O’Brien, Derry

Abstract

This box assesses labour supply developments during the COVID-19 pandemic. During the pandemic labour supply has fallen sharply. It has partially recovered, although it remains substantially below pre-pandemic levels. While labour force was initially affected in a similar way across the largest euro area countries, there was also some heterogeneity across countries and demographic groups. When taking the pre-pandemic trends into account, workers with a low and medium level of education as well as older workers explain the largest part of the current gap to the pre-pandemic trends. A full recovery of labour force participation to the rising pre-pandemic trend will likely be gradual. JEL Classification: E32, J11, J21

Suggested Citation

  • Bodnár, Katalin & O’Brien, Derry, 2021. "Labour supply developments in the euro area during the COVID-19 pandemic," Economic Bulletin Boxes, European Central Bank, vol. 7.
    • Handle: RePEc:ecb:ecbbox:2021:0007:3
    Note: 2881411
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    File URL: https://www.ecb.europa.eu//pub/economic-bulletin/focus/2021/html/ecb.ebbox202107_03~04da961c7f.en.html
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    Citations

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    Cited by:

    1. Gomez-Salvador, Ramon & Soudan, Michel, 2022. "The US labour market after the COVID-19 recession," Occasional Paper Series 298, European Central Bank.

    More about this item

    Keywords

    COVID-19; labour supply;

    JEL classification:

    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • J11 - Labor and Demographic Economics - - Demographic Economics - - - Demographic Trends, Macroeconomic Effects, and Forecasts
    • J21 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Force and Employment, Size, and Structure

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