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David Chaloupka
Economics
- Division
Supply Side, Labour and Surveillance
- Current Position
-
Research Analyst
- 6 August 2026
- ECONOMIC BULLETIN - BOXEconomic Bulletin Issue 5, 2026Details
- Abstract
- Have labour market prospects deteriorated more for young workers than for the aggregate labour market? This box analyses labour market developments across age and skill groups in relation to economic activity. It shows that in recent quarters young workers have indeed faced a more difficult job market. However, taking the relation with developments in real GDP into account, Okun's law residuals suggest that this weakness remains broadly in line with normal cyclical dynamics, also reflecting the higher sensitivity of young workers to the economic cycle and strong employment growth during the post-pandemic recovery.
- JEL Code
- E24 : Macroeconomics and Monetary Economics→Consumption, Saving, Production, Investment, Labor Markets, and Informal Economy→Employment, Unemployment, Wages, Intergenerational Income Distribution, Aggregate Human Capital
J23 : Labor and Demographic Economics→Demand and Supply of Labor→Labor Demand
- 24 June 2026
- THE ECB BLOG