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Covid-19 and regional employment in Europe

Summary:
BIS Bulletin  |  No 16  |  15 May 2020 by  Sebastian Doerr and Leonardo Gambacorta PDF full text (1,782kb)  |  9 pages Key takeaways We construct employment risk indices for European regions that reflect the share of jobs under threat from Covid-19. The risk index is based on local employment in sectors that are more exposed to the pandemic and on the regional incidence of small firms. Employment in regions in southern Europe and France is shown to have high risk indices, while regions in

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BIS Bulletin  |  No 16  | 
15 May 2020
PDF full text
 (1,782kb)
 |  9 pages

Key takeaways

  • We construct employment risk indices for European regions that reflect the share of jobs under threat
    from Covid-19. The risk index is based on local employment in sectors that are more exposed to the
    pandemic and on the regional incidence of small firms.
  • Employment in regions in southern Europe and France is shown to have high risk indices, while regions
    in northern Europe have lower risk indices. Eastern and central European regions have intermediate risk
    indices.
  • Regions with a higher risk index have a bigger jump in Google searches for unemployment-related terms.
International Settlement
The Bank for International Settlements (BIS) is an international company limited by shares owned by central banks which "fosters international monetary and financial cooperation and serves as a bank for central banks". The BIS carries out its work through subcommittees, the secretariats it hosts and through an annual general meeting of all member banks. It also provides banking services, but only to central banks and other international organizations. It is based in Basel, Switzerland, with representative offices in Hong Kong and Mexico City.

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