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Unemployment and labour market mismatch in the European Union Countries

Gina Cristina Dimian (), Liviu Stelian Begu () and Josef Jablonsky ()
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Gina Cristina Dimian: Faculty of Economic Cybernetics, Statistics and Informatics, Bucharest Academy of Economic Studies, Bucharest, Romania
Liviu Stelian Begu: Faculty of Economic Cybernetics, Statistics and Informatics, Bucharest Academy of Economic Studies, Bucharest, Romania
Josef Jablonsky: Faculty of Informatics and Statistics, University of Economics, Prague, Czech Republic

Zbornik radova Ekonomskog fakulteta u Rijeci/Proceedings of Rijeka Faculty of Economics, 2017, vol. 35, issue 1, 13-44

Abstract: The purpose of this paper is to investigate some of the main drivers of high unemployment rates in the European Union countries starting from two sources highlighted in the economic literature: the shortfall of the aggregate demand and the increasing labour market mismatches. Our analysis is based on a panel database and focuses on two objectives: to measure the long and short-term impact of GDP growth on unemployment over recent years for different categories of labour market participants (young, older and low educated workers) and to evaluate the relationship between mismatches related to skills (educational and occupational) and unemployment. One of the main conclusions is that unemployment rates of young and low educated workers are more responsive to economic growth variations both in the long and short run, while unemployment rates of older workers show a greater capacity of adjustment. In addition, occupational mismatches seem to have a significant long-term impact on the changes in unemployment of all categories of unemployed, whereas the short run effect is rather mixed, varying across countries. One explanation is the fact that during crisis, economy’s structure tends to change more rapidly than labour market and educational system can adapt.

Keywords: unemployment; economic growth; mismatches; panel data; dynamic econometric analysis (search for similar items in EconPapers)
JEL-codes: J62 J64 O4 (search for similar items in EconPapers)
Date: 2017
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