This paper presents a reappraisal of unemployment movements in the European Union. Our analysis is based on the chain … reaction theory of unemployment, which focuses on (a) the interaction among labor market adjustment processes, (b) the … growth drivers. Estimating a system of labor market equations for a panel of EU countries, we derive the dynamic unemployment …

unemployment insurance, and active labor market policies. This model has coped with the Great Recession and the Covid-19 pandemic …, avoiding large increases in long-term and structural unemployment. The recovery from Covid-19 alongside re-openings has been … responded-with some lag-to unemployment. …

differs strongly from other crises in recent history. We analyse the short-term economic effects of the COVID-19 shock through … the COVID shock and the containment and stabilisation policies. Shock decompositions with the estimated model show the … severity of the recession. …

Die Auswirkungen der von COVID-19 ausgelösten Wirtschaftskrise auf die Arbeitslosigkeit könnten kaum unterschiedlicher …The effects that the economic crisis triggered by COVID-19 is having on unemployment could hardly differ more than in … of the European Union (EU-27) managed to keep unemployment in check largely through heavy reliance on short-time work or …