THE IMPACT OF COVID-19 ON THE LABOUR MARKET

Abstract

The COVID-19 pandemic had a tremendous impact on the global economy. The pandemic caused an economic downturn both in advanced and emerging economies worldwide, leading to an economic slowdown in the world economy. The European Union member states developed policy responses both to contain the spread of the virus and to support economic activity. Currently, the European economies face several challenges regarding macroeconomic indicators, particularly unemployment, employment, wages and inflation. The current article aims to study the impact of the COVID-19 pandemic on the labour market of the European Union member states with advanced and emerging economies in 2020 and 2021.