Is this time really different?: how the impact of the COVID-19 crisis on labour markets contrasts with that of the global financial crisis of 2008-09
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Organización Internacional del Trabajo (OIT)
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| Format: | Artículo científico |
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International Labour Organization
2022
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| _version_ | 1874525259022991364 |
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| author | Sher Verick Dorothea Schmidt-Klau Sangheon Lee |
| author_facet | Sher Verick Dorothea Schmidt-Klau Sangheon Lee Sher Verick Dorothea Schmidt-Klau Sangheon Lee |
| contents | Is this time really different?: how the impact of the COVID-19 crisis on labour markets contrasts with that of the global financial crisis of 2008-09 Sher Verick Dorothea Schmidt-Klau Sangheon Lee The COVID-19 pandemic has resulted in a more severe labour market crisis in 2020 than witnessed during the 2009 global financial crisis. Reflecting the effects of lockdown measures, which has been the main cause of damage to labour markets, the deepest impacts have been found in middle-income economies, while certain sectors, such as accommodation and food services, and groups, especially young women, have been more negatively affected over 2020. Contrary to the adjustment process during previous shocks, the COVID-19 crisis has resulted in a greater rise in inactivity than unemployment. Policy support needs to be maintained to avoid an unequal recovery. publication.journalArticle |
| format | Artículo científico |
| id | ilo_995219453502676 |
| institution | Organización Internacional del Trabajo (OIT) |
| publishDate | 2022 |
| publisher | International Labour Organization |
| spellingShingle | Is this time really different?: how the impact of the COVID-19 crisis on labour markets contrasts with that of the global financial crisis of 2008-09 Sher Verick Dorothea Schmidt-Klau Sangheon Lee Is this time really different?: how the impact of the COVID-19 crisis on labour markets contrasts with that of the global financial crisis of 2008-09 Sher Verick Dorothea Schmidt-Klau Sangheon Lee The COVID-19 pandemic has resulted in a more severe labour market crisis in 2020 than witnessed during the 2009 global financial crisis. Reflecting the effects of lockdown measures, which has been the main cause of damage to labour markets, the deepest impacts have been found in middle-income economies, while certain sectors, such as accommodation and food services, and groups, especially young women, have been more negatively affected over 2020. Contrary to the adjustment process during previous shocks, the COVID-19 crisis has resulted in a greater rise in inactivity than unemployment. Policy support needs to be maintained to avoid an unequal recovery. publication.journalArticle |
| title | Is this time really different?: how the impact of the COVID-19 crisis on labour markets contrasts with that of the global financial crisis of 2008-09 |
| url | https://researchrepository.ilo.org/esploro/outputs/journalArticle/Is-this-time-really-different-how/995219453502676 |