Short-time work, layoffs, and new hires in Germany: how the corona crisis differs from the financial crisis of 2009 (Series "COVID-19 Crisis: Consequences for the Labour Market")

Abstract

"The spread of the coronavirus has plunged the German economy into the worst recession in its post-war history. The corona crisis has impacted the German economy and labour market much more heavily than the financial crisis of 2009: Significantly more sectors are affected today than in 2009. Nevertheless, the number of layoffs has so far been limited compared to the number of workers on short-time work. The fact that, to date, all sectors have relied much more on short-time work than on layoffs shows that the majority of companies have – thus far – been willing to keep their staff." (Author's abstract, IAB-Doku) ((en))

Cite article

Gehrke, B. & Weber, E. (2020): Short-time work, layoffs, and new hires in Germany: how the corona crisis differs from the financial crisis of 2009 (Series "COVID-19 Crisis: Consequences for the Labour Market"). In: IAB-Forum No. 16.12.2020 Nürnberg, o. Sz.