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Young and low qualified workers hit hard By TPN/Lusa, in Business · 08-01-2021 18:00:00 · 0 Comments
The drop in employment in the Euro zone observed until the end of the first half of last year, particularly effected precarious workers, namely in younger and less qualified people, according to the European Central Bank (ECB). The decline in employment was strongest for temporary employees, the youngest and low-educated workers until June 2020, the period of biggest impact of the covid-19 pandemic, can be read in an article published by the ECB in its Economic Bulletin.
According to the document, the employment of workers with a high level of education was practically unaffected by the pandemic, while workers with a low level of education saw a decline in their employment .
Economic Bulletin
Overview
At its monetary policy meeting on 10 December 2020, the Governing Council decided to recalibrate its monetary policy instruments. While the rebound in economic activity in the third quarter was stronger than expected and the prospects for the roll-out of vaccines are encouraging, the coronavirus (COVID-19) pandemic continues to pose serious risks to public health and to the euro area and global economies. The resurgence in COVID-19 cases and the associated containment measures are significantly restricting euro area economic activity, which is expected to have contracted in the fourth quarter of 2020. While activity in the manufacturing sector continues to hold up well, services activity is being severely curbed by the increase in infection rates and the new restrictions on social interaction and mobility. Inflation remains very low in the context of weak demand and significant slack in labour and product markets. Overall, the incoming data and the Decemb