The number of individuals that lost their job because of the COVID-19 pandemic is estimated to be around 40 thousand, out of whom 12 600 are young people in the ages 15-29. According to data collected by INSTAT, sectors directly related to services and tourism weren’t able to generate employment even during the last months of 2020.
The COVID-19 pandemic has created adversities in the job market, affecting mostly the younger generation and women. Data from INSTAT shows that in the last trimester of 2020, over 12 600 people lost their jobs compared to the same period in 2019. At the end of 2020, 264.300 young people were employed whereas at the end of 2019, there were 276.984.
Many young people, who lost their jobs have rushed to employment offices. Official data show that during the fourth trimester of 2020, around 5000 young people from 15-29 years old were registered for unemployment. The data suggests that most of those who have lost their jobs were employed in the service sector as well as businesses related to tourism, hotels, bars and restaurants. The employment index in these activities marked a drop of 35-50 % in the last trimester of 2020.
Data from the Work Force Survey show that during the last trimester of the year, around 40 thousand people lost their job, out of whom 33% were young adults. The rise in unemployment from 15-29 years old is also affected by the high emigration trends registered in our country even before the pandemic.
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