Labor Market and Digitalization in Portugal

This paper analyzes Portugal's labor market and digitalization trends during COVID-19. Portugal had a milder impact on its labor market than previous recessions, with smaller employment declines and less unemployment.
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Volume/Issue: Volume 2023 Issue 047
Publication date: July 2023
ISBN: 9798400248344
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Labor , Money and Monetary Policy , International - Economics , Digitalization , Labor Market , Employment , Vacancies , COVID-19 , aggregate labor market dynamics , digitalization in Portugal , resilient labor market , employment share , job retention scheme , Labor markets , Europe

Summary

This paper analyzes Portugal's labor market and digitalization trends during COVID-19. Portugal had a milder impact on its labor market than previous recessions, with smaller employment declines and less unemployment. However, labor force participation sharply dropped, especially among low-skilled and young workers. Contact-intensive and non-digital jobs and young and low-skilled workers were disproportionately affected. Conversely, digital employment in Portugal grew while non-digital employment decreased. Regression analysis for Europe and the US suggests a temporary rise in digital employment during the pandemic. Policy emphasis on digitalization investments and skills development is crucial for a resilient labor market in Portugal, considering future shocks.