Dynamics and Regional Features of Labour Market Recovery During COVID-19

The imbalance between labour supply and demand, both by types of economic activity and by professional groups, differs in Russian regional labour markets, causing long-term unemployment and impoverishment of the population. The article examines the transformation of the labour market, regional characteristics of market failures and its recovery during the COVID-19 pandemic. Based on sample surveys of the labour force conducted by the Federal State Statistics Service, we determined monthly unemployment dynamics and, subsequently, the vulnerability and instability of regional labour markets. It is hypothesised that the stronger the contraction of employment and the greater the unemployment, the longer the process of labour market recovery during the pandemic;regions recover from the crisis at different speeds. Indicators of the intensity of labour market failures and its recovery are proposed. Since the pandemic is a peculiar phenomenon that affected the economy and society, human behaviour in the labour market, the concept of excessive unemployment was used (the difference between actual unemployment and its pre-pandemic level). We performed a correlation analysis of the relations between labour market failures and its recovery in four groups of regions characterised by different labour market fluctuations. The calculated Spearman's coefficients showed a positive relationship between the indicators. The depth of labour market failures and its recovery rate in regions with developed infrastructure, attracting labour migrants, are revealed. A positive relationship was established between the unemployment dynamics and the increase in vacancy rate reported by employers to employment agencies, increase in the average monthly salary. This article presents the results of the first research stage. Further studies will expand the time series of employment and unemployment in order to identify long-term trends and build a forecasting model. © 2023 Institute of Economics, Ural Branch of the Russian Academy of Sciences. All rights reserved.

Did the Market Indices of G7 Countries Recover Evenly from the Start of COVID-19 (January 2020) Through December 2021?

Earlier work documented how COVID-19 affected the performance of the stock market indices around the world (Bieszk-Stolorz and Dmytrow, 2021;Lento and Gradojevic, 2021). Research has yet to investigate the longer-term recovery of these market indices. From a buy-and-hold perspective, this paper compares the recovery of indices in G7 countries and Hong Kong from the beginning of the pandemic in January 2020 to June 2021. The empirical results show that the null hypothesis of equal individual monthly returns in the indices of G7 countries and Hong Kong cannot be rejected. However, the null hypothesis of equal buy-and-hold returns in the indices of G7 countries and Hong Kong from January 2020 through June 2021 can be rejected, indicating that the market recovery status among the G7 countries and Hong Kong from the start of COVID-19 in January 2020 through June 2021 has been uneven and unequal. Copyright © 2022 GMP Press and Printing.

The transition of the global financial markets' connectedness during the COVID-19 pandemic

This study contributes to the literature on financial research under the presence of the COVID-19 pandemic. Fresh evidence emerges from using two novel approaches, namely network analysis and wavelet coherence, to examine the connectedness and comovement of financial markets consisting of stock, commodity, gold, real estate investment trust, US exchange, oil, and Cryptocurrency before and during the COVID-19 onset. Moreover, unlike the previous studies, we seek to fill a gap in the literature regarding the ex-post detection of COVID-19 crises and propose the Markov-switching autoregressive model to detect structural breaks in financial market returns. The first result shows that most financial markets entered the downtrend after January 30, 2020, coinciding with the date the World Health Organization (WHO) declared the COVID-19 pandemic as a Public Health Emergency of International Concern. Thus, it is reasonable to use this date as the break date due to COVID-19. The empirical result from network analysis indicates a similar connectedness, or the network structure, in other words, among global financial markets in both the pre-and during COVID-19 pandemic periods. Moreover, we find evidence of market differences as the MSCI stock market plays a central role while Cryptocurrency presents a weak role in the global financial markets. The findings from the wavelet coherence analysis are quite mixed and illustrate that the comovement of the financial markets varies over time across different frequencies. We also find the main and most significant period of coherence and comovement among financial markets to be between December 2019 and August 2020 at the low-frequency scale (>32 days) (middle and long terms). Among all market pairs, the oil and commodity market pair has the strongest comovement in both pre-and during the COVID-19 pandemic phases at all investment horizons.

Measuring the impact of long-haul low-cost carriers on lowering fares: A quasi-experimental design to assess the pre-COVID market.

This paper aims to investigate the impact of the introduction of the long-haul low cost carrier in the North Atlantic market to present the competitive situation before the COVID-19. There are a number of challenges in estimating the incremental effect of LH LCC. Therefore, several strategies were taken. Firstly, a difference in differences estimation and propensity score matched methods were employed using six major routes in the North Atlantic market with IATA's ticket sale data from January 2015 to December 2019; a granulated data to present the characteristics of flight and economy class fares. The outcomes indicate that a 17.2-20.6% fare reduction in average on the routes where Norwegian operated during 2015 and 2019 after Norwegian's entry, compared to what it would have happened if they didn't operate. It implies the LH LCC entry lowered fares significantly, and the level of fare competition in the North Atlantic market before the COVID-19 was high. In addition, a certain level of viability as an LH LCC has been implicated. This output can be used for the airline's strategic implication and the policy proposition, particularly when LCC expands the longer routes after the COVID recovery. Frequent and specific (detailed) assessments by market and period are imperative.

The Impact of the Pandemic on Gender Inequality in the Australian Labor Market

We examine whether the coronavirus disease 2019 (COVID-19) and the associated policy responses have aggravated gender inequality in the Australian labor market. Using quarterly data from the Australian Labour Force Survey between November 2019 and November 2021, we compare labor force outcomes before and during the outbreak. Our findings indicate that while women fared worse than men in the first few months of the pandemic, labor market recovery was much more rapid for women. By the end of the period, on most indicators, women’s position in the labor market had improved relative to that of men. © The Author(s) 2022.

Perceptions of cruise travel during the COVID-19 pandemic: Market recovery strategies for cruise businesses in North America.

The study aims to identify consumer perceptions of the cruise industry amid the COVID-19 pandemic and seeks to provide market recovery strategies for cruise businesses. The relationship between perceptions among cruise experience and COVID-19 financial status groups were explored. The results of analyses of data from 759 respondents indicated that travel constraints negatively influence behavioral intention through negativity bias. Further, perceived crisis management positively affects behavioral intention through attitude-trust. New consumers' behavioral intention is significantly affected by the negativity bias, and the perceived crisis management manipulates the trust of financial-affected consumers.