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Integral analysis of selected labour market indicators in the context of a Covid-19 pandemic

Author

Listed:
  • Matej Húževka

    (Alexander Dubček University of Trenčín, Slovakia)

  • Jana Masárová

    (Alexander Dubček University of Trenčín, Slovakia)

  • Valentinas Navickas

    (Alexander Dubček University of Trenčín, Slovakia)

Abstract

Individual indicators linked to labour market developments during the COVID-19 pandemic provide a view of a particular area but fail to capture the issue of the impact of the crisis comprehensively. This problem can be addressed by integrating them using multicriteria methods, resulting in a synthetic indicator of a specific labour market. Thus, the issue of the impact of the pandemic on important macroeconomic and labour market indicators can be evaluated by calculating a single indicator. The main objective of this study is to identify the labour market with the highest positive flexibility in relation to the impacts of the pandemic and thus reveal the critical factor that fundamentally reduces the resistance of the labour market to negative pandemic externalities. During the first wave of the COVID-19 pandemic (2020-Q2), Slovakia reached the highest value of the integral indicator, but in the last recorded wave (2022-Q1), it moved to the last place. Its average integral indicator for all three waves reached the highest average value. However, the highest value of the integral indicator and thus the highest positive flexibility of the labour market during the third wave was recorded by Germany, which evokes the assumption that the approach of the local government and authorities in the mentioned period most effectively protected the labour market from negative fluctuations. The results of the countries during the third wave of the pandemic consider the impact of the most current measures that were implemented at the time of the pandemic.

Suggested Citation

  • Matej Húževka & Jana Masárová & Valentinas Navickas, 2024. "Integral analysis of selected labour market indicators in the context of a Covid-19 pandemic," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 11(3), pages 10-24, March.
    • Handle: RePEc:ssi:jouesi:v:11:y:2024:i:3:p:10-24
    DOI: 10.9770/jesi.2024.11.3(1)
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    References listed on IDEAS

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    1. Guido Matias Cortes & Eliza Forsythe, 2023. "Heterogeneous Labor Market Impacts of the COVID-19 Pandemic," ILR Review, Cornell University, ILR School, vol. 76(1), pages 30-55, January.
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    Keywords

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    JEL classification:

    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity

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