The Effect of the COVID-19 Pandemic on the Labor Markets of the Visegrad Countries

Abstract

The COVID-19 pandemic caused a sudden and deep recession contributing, among other things, to a sharp rise in unemployment. The article addresses changes in the labor markets of the Visegrad countries (Czechia, Hungary, Poland, and Slovakia), covering the period 2018–2021. It attempts to answer the questions: how deep a slump was caused by the pandemic in these markets, how flexible forms of employment responded to it, and whether there were discriminatory phenomena (decline in employment and increase in unemployment in the most vulnerable groups in the labor market). The analysis was based on quarterly data published by Eurostat on the size and structure of the employed and unemployed population. The results of the compilations indicate a relatively small deepening of imbalances in the labor markets of the analyzed countries, a differentiated reaction of flexible forms of employment (depending on the form of employment), which was in line with expectations (they were used as a business cycle buffer). In most of the V4 countries, women were relatively less likely to lose their jobs than men during the pandemic. In a few cases, a relatively stronger decline in employment (increase in unemployment) affected young people, people aged 55–64, and people with the lowest education.