Le mar­ché du tra­vail au fil des réces­sions

The labour market is closely tied to the business cycle, and recessions generally lead to a decrease in labour demand. However, even though recessions have common markers, they have their own characteristics, and the impact on employment varies depending on factors such as the amplitude or the duration of the business cycle, or the cause and the origin of a recession. Temporality is also a specific aspect: there is a time lag between some labour market indicators and the business cycle, and some negative shocks can affect the labour market even after the recovery period. The COVID-19 pandemic has temporarily caused a significant drop in Belgian GDP, but employment has been resilient in the initial phase of the recession and has grown strongly afterward. It is important to note, however, that labour market reactions are often delayed, the economic context remains uncertain, and qualitative changes have emerged during this period.