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2020/08/20 / Erste Group Research

CEE Special | Challenge no. 6 Labor market

Labor market report is the sixth one from the series titled "CEE - 10 challenges for the new decade". The working age population is likely to continue to shrink over the decades to come. We look at the CEE region and discuss how it could increase participation rate.

The CEE region should focus on increasing participation rate by higher employment of young people and women. Among these two groups, the gap to the benchmark country (Sweden) is the highest. Flexible work arrangements (part-time employment, teleworking), supported by investment in digital infrastructure, services and skills, could be positive for women’s employment as well and labor market participation among elders. The pandemic outbreak only revealed the need for flexibility and accelerated changes. Such work arrangements tend to dominate among white-collar workers and highly educated people.

This brings us to another aspect: further improvement of educational attainments, including life-long learning, which reduces the probability of being unemployed. Among other factors that could increase labor market participation, we should mention an increase of the retirement age, including information about estimated pension entitlements, migration, as well as addressing structural problems, such as the unemployment of marginalized groups

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General information

AuthorErste Group Research
Product nameCEE Economies Special Report
Topic in focusFX, Macro/ Fixed income
Economy in focusCEE, Croatia, Czech Republic, Hungary, Poland, Romania, Serbia, Slovakia, Slovenia
Currency in focusCroatian Kuna, Czech Koruna, Euro, Hungarian Forint, Polish Zloty, Romanian Leu, Serbian dinar
Sector in focus-


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