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Panel discussion on the impact of Covid-19 and today's labor market in Europe and the U.S.

Classification Country labor markets

IZA World of Labor Panel discussion on the impact of Covid-19 and today's labor market in Europe and the U.S.: Daniel S. Hamermesh in conversation with Michael C. Burda from Humboldt University, Pierre Cahuc from Sciences Po and Harry J. Holzer from the McCourt School of Public Policy at Georgetown University

Discussion questions:

- How has the Covid pandemic contributed to the sharp decline in labor-force participation in the developed world? Why are people choosing not to work, or to work less, compared to pre-Covid?
- In Europe the labor force participation rate (the fraction of people working or looking for work) has already risen to pre-pandemic levels whereas in the U.S. it is still about 1.5% (3 million workers below where it was). Why is that?
- If labor is so scarce currently, why aren’t real wages rising more rapidly?
- How has the Covid pandemic contributed to the remarkable acceleration of inflation in the developed world?
- Are you worried about the impact on unemployment of government effort to combat inflation? If so, why? If not, why not? In the last 70 years, at what point was the macro-labor market (or was most like) what it was today?


Read related IZA World of Labor content:

- Covid-19—Pandemics and the labor market
- National responses to Covid-19:

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