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Labour market mechanisms - An empirical study of policies and institutions on the general labour market and the short term effects on the Swedish labour market during the Covid-19 crisis

Skeppås, Emanuel LU (2021) NEKH01 20211
Department of Economics
Abstract
This thesis looks at labour market mechanisms for 13 advanced countries and narrows down the focus to the Swedish labour market during the Covid-19 crisis. We concluded that short term unemployment benefits are correlated with a decrease in the unemployment rate while trade union density and public unemployment spending for a longer period is correlated with an increased unemployment rate. The thesis also discusses other factors that are important for understanding unemployment. Such factors include the quality of job matching and increased consumption. The Swedish labour market during the Covid-19 crisis has changed. We have seen greater unemployment, fewer working hours per worker and week and fewer employment opportunities by looking at... (More)
This thesis looks at labour market mechanisms for 13 advanced countries and narrows down the focus to the Swedish labour market during the Covid-19 crisis. We concluded that short term unemployment benefits are correlated with a decrease in the unemployment rate while trade union density and public unemployment spending for a longer period is correlated with an increased unemployment rate. The thesis also discusses other factors that are important for understanding unemployment. Such factors include the quality of job matching and increased consumption. The Swedish labour market during the Covid-19 crisis has changed. We have seen greater unemployment, fewer working hours per worker and week and fewer employment opportunities by looking at the total hours worked per week for different industries. Greater unemployment likely caused by aggregate demand factors and restrictions to contain the spread of Covid-19. Average working hours have been affected by the same factors but also due to furlough schemes put in place by the government. From the total weekly hours worked data we concluded that some industries saw a decrease while some did not. An asymmetric effect of fewer employment opportunities has occurred. The most impacted have been the already low- paid workers in the economy. (Less)
Please use this url to cite or link to this publication:
author
Skeppås, Emanuel LU
supervisor
organization
course
NEKH01 20211
year
type
M2 - Bachelor Degree
subject
keywords
Unemployment, Labour market, OECD, Sweden, Covid-19, Macroeconomics
language
English
id
9049412
date added to LUP
2021-07-05 13:38:44
date last changed
2021-07-05 13:38:44
@misc{9049412,
  abstract     = {{This thesis looks at labour market mechanisms for 13 advanced countries and narrows down the focus to the Swedish labour market during the Covid-19 crisis. We concluded that short term unemployment benefits are correlated with a decrease in the unemployment rate while trade union density and public unemployment spending for a longer period is correlated with an increased unemployment rate. The thesis also discusses other factors that are important for understanding unemployment. Such factors include the quality of job matching and increased consumption. The Swedish labour market during the Covid-19 crisis has changed. We have seen greater unemployment, fewer working hours per worker and week and fewer employment opportunities by looking at the total hours worked per week for different industries. Greater unemployment likely caused by aggregate demand factors and restrictions to contain the spread of Covid-19. Average working hours have been affected by the same factors but also due to furlough schemes put in place by the government. From the total weekly hours worked data we concluded that some industries saw a decrease while some did not. An asymmetric effect of fewer employment opportunities has occurred. The most impacted have been the already low- paid workers in the economy.}},
  author       = {{Skeppås, Emanuel}},
  language     = {{eng}},
  note         = {{Student Paper}},
  title        = {{Labour market mechanisms - An empirical study of policies and institutions on the general labour market and the short term effects on the Swedish labour market during the Covid-19 crisis}},
  year         = {{2021}},
}