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Employment and worker flows during the financial crisis

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  • Costas N. Kanellopoulos

    ()
    (Bank of Greece)

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    Abstract

    This paper, using data from the Labour Force survey, examines the decline of employment by sector of economic activity as well as the size and profile of the corresponding worker flows since the beginning of the recent financial crisis. It shows that the 433,500 employment losses until spring 2011 (10.4% of employment) came through a clear predominance of separations (487,000 per year) over hirings (350,000 per year). Also certain sectors exposed to international competition, like food and beverages, pharmaceutical industry, agriculture, hotels and restaurants, show higher employment resilience as well as noticeable labour mobility.

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    File URL: http://www.bankofgreece.gr/BogEkdoseis/econbull201204.pdf
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    Bibliographic Info

    Article provided by Bank of Greece, Economic Research Department in its journal Economic Bulletin.

    Volume (Year): (2012)
    Issue (Month): 36 (April)
    Pages: 31-41

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    Handle: RePEc:bog:econbl:y:2012:i:36:p:31-41

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    Web page: http://www.bankofgreece.gr
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    Keywords: Employment; worker flows; hiring rate; separation rate; Greece;

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    Cited by:
    1. Zacharias Bragoudakis & Dimitrios Sideris, 2012. "Do retail gasoline prices adjust symmetrically to crude oil price changes? the case of the Greek oil market," Economic Bulletin, Bank of Greece, Economic Research Department, issue 37, pages 7-21, December.
    2. Costas N. Kanellopoulos, 2012. "The Size and structure of uninsured employment," Economic Bulletin, Bank of Greece, Economic Research Department, issue 37, pages 23-41, December.
    3. Petros M. Migiakis, 2012. "Reviewing the proposals for common bond issuances by the euro-area sovereign under a long-term perspective," Economic Bulletin, Bank of Greece, Economic Research Department, issue 37, pages 43-54, December.

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