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Labour supply and employment growth

Author

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  • Bodnár, Katalin

Abstract

This article examines the main factors behind the recent changes in euro area labour supply and how they have influenced employment developments. It finds that the increasing supply from older people and women, as well as immigration, have had a significant influence on employment growth during the economic recovery. Both migration and the numbers of older people and women in or seeking work have been driven by long-term trends and structural changes, while migration has also been affected by several cyclical factors. In the medium to longer term, labour supply is expected to decline as the population ages. This calls for policies to support labour force and employment growth, for example by helping the long-term unemployed, migrants and other groups whose participation rates remain low, to enter or return to the labour market, or find jobs that better match their skills. JEL Classification: J01, J21, J22, J61

Suggested Citation

  • Bodnár, Katalin, 2018. "Labour supply and employment growth," Economic Bulletin Articles, European Central Bank, vol. 1.
    • Handle: RePEc:ecb:ecbart:2018:0001:1
    Note: 2881411
    as

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    File URL: https://www.ecb.europa.eu//pub/pdf/other/ebart201801_01.en.pdf
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    Citations

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    Cited by:

    1. Koester, Gerrit & Lis, Eliza & Nickel, Christiane & Osbat, Chiara & Smets, Frank, 2021. "Understanding low inflation in the euro area from 2013 to 2019: cyclical and structural drivers," Occasional Paper Series 280, European Central Bank.

    More about this item

    Keywords

    aging; immigration; labour supply; women;
    All these keywords.

    JEL classification:

    • J01 - Labor and Demographic Economics - - General - - - Labor Economics: General
    • J21 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Force and Employment, Size, and Structure
    • J22 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Time Allocation and Labor Supply
    • J61 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Geographic Labor Mobility; Immigrant Workers

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