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Short-time work, layoffs, and new hires in Germany: how the corona crisis differs from the financial crisis of 2009 (Series "COVID-19 Crisis: Consequences for the Labour Market")

Author

Listed:
  • Gehrke, Britta

    (Institute for Employment Research (IAB), Nuremberg, Germany)

  • Weber, Enzo

    (Institute for Employment Research (IAB), Nuremberg, Germany)

Abstract

"The spread of the coronavirus has plunged the German economy into the worst recession in its post-war history. The corona crisis has impacted the German economy and labour market much more heavily than the financial crisis of 2009: Significantly more sectors are affected today than in 2009. Nevertheless, the number of layoffs has so far been limited compared to the number of workers on short-time work. The fact that, to date, all sectors have relied much more on short-time work than on layoffs shows that the majority of companies have – thus far – been willing to keep their staff." (Author's abstract, IAB-Doku) ((en))

Suggested Citation

  • Gehrke, Britta & Weber, Enzo, 2020. "Short-time work, layoffs, and new hires in Germany: how the corona crisis differs from the financial crisis of 2009 (Series "COVID-19 Crisis: Consequences for the Labour Market")," IAB-Forum, Institut für Arbeitsmarkt- und Berufsforschung (IAB), Nürnberg [Institute for Employment Research, Nuremberg, Germany], vol. 2020(2020-12-1), pages 20201216-20.
    • Handle: RePEc:iab:iabfor:v:2020:i::p:20201216_01
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