Forty years of productivity and labour market resilience in European regions

Alexandra Tsvetkova

No 2024/08, OECD Local Economic and Employment Development (LEED) Papers from OECD Publishing

Abstract: To mark the 40th anniversary of the OECD Local Employment and Economic Development (LEED) Programme, this paper examines determinants and consequences of employment resilience, or lack of, in European NUTS3/TL3/TL3 regions over the last 40 years. Descriptive evidence shows that the least resilient regions (those with the largest percentage drop in employment during a recession) slip to persistently lower post-recession employment-to-population ratio trajectories. On the other hand, regions with higher productivity pre-recession lost proportionally fewer jobs during a recession and were more likely to recover to the pre-recession employment levels (except for the recession induced by the COVID-19 pandemic). Overall, the findings point to the ability of productivity to serve as a shield against negative employment impacts of economic crises.

JEL-codes: J01 O18 R11 (search for similar items in EconPapers)
Date: 2024-09-19
New Economics Papers: this item is included in nep-eec, nep-eff, nep-geo, nep-his, nep-lab and nep-ure
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Persistent link: https://EconPapers.repec.org/RePEc:oec:cfeaaa:2024/08-en

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