From pandemic shock to recession as pandemic set in

Pandemic-related restrictions on economic activity resulted in a massive reduction in working hours in March and April 2020. Only the key professions and those jobs that could be done from home were largely spared. Once the strict lockdown rules were relaxed, the sectors that were particularly affected recovered relatively quickly, while other sectors recorded a significant drop in hours. This is shown in a new study by economists of the Cologne-Bonn Cluster of Excellence ECONtribute and the Institute of Labor Economics (IZA), which is based on detailed Dutch data.

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