The evolution of the labor market in the context of economic crises and digitalization

Vlad Valentin Vîrjan
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Vlad Valentin Vîrjan: Bucharest University of Economic Studies, Romania

Theoretical and Applied Economics, 2025, vol. XXXII, issue Special, Summer, 175-187

Abstract: In recent decades, the labour market has been significantly influenced by global economic crises and technological advances, in particular digitalization. Economic crises, such as recessions and pandemics, have had a profound impact on unemployment rates, job structure and working conditions, sometimes leading to massive job cuts or changing skill requirements. At the same time, digitization has transformed the way work is done, through automation, remote working, online platforms and new business models. These developments have led to increased demands for digital skills and the emergence of innovative jobs, but also to the disappearance of some traditional jobs. As a research method we applied a multiple linear regression model to determine possible correlations between employment (dependent variable) and unemployment rate, inflation rate and economic growth rate (independent variables). After processing the historical data in the period 2006-2024 with the help of SPSS program, it turned out that the model is valid and there are semisignificant correlations between the dependent and independent variables. Major economic crises have significantly influenced the labor market, generating instability and uncertainty, thus both employees and employers have had to adapt quickly to new conditions.

Keywords: labor market; unemployment; inflation; economic crisis; pandemic crisis. (search for similar items in EconPapers)
Date: 2025
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