Nikoloski, Dimitar and Pechijareski, Ljupcho (2016) The impact of recent economic crisis on the subjective well-being of unemployed workers in Macedonia: The role of alternative adjustment mechanisms. In: Economics, Health and Happiness, January 14-16, 2016, Lugano.
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Abstract
Depressed labour market conditions in Macedonia manifested by high and persistent unemployment rate, strong segmentation and prevailing long-term unemployment is considered as a heritage of two decades long period of transition. The sustainability of unemployment among certain categories of workers has significantly contributed to an erosion of their skills and motivation, making them less employable over time. In addition, the recent economic crisis has undoubtedly affected the labour market performance by causing stagnant growth and reduced employment. The negative macroeconomic shocks in Macedonia have been mitigated due to the strengthened role of alternative labour market adjustment mechanisms such as: employment in the informal sector, emigration and inactivity. These mechanisms cushion the social implications of unemployment by absorbing a part of unemployed workforce and providing additional incomes for their households. However, their impact on the subjective well-being of unemployed workers assessed through the levels of stress, living standard and perception of future labour market prospects is less clear-cut. Thus, examining the relationship between the alternative labour market adjustment mechanisms, from one side and the subjective well-being of unemployed workers during the recent economic downturn represents a challenging research task. For this purpose we use results from a survey carried out on a representative sample of unemployed workers in Macedonia. In this context, we estimate econometric models that help to identify the profile of unemployed workers whose subjective well-being has been most affected by the economic crisis with particular reference to the role of alternative labour market adjustment mechanisms. Finally, we formulate guidelines for decision makers in designing and applying appropriate policy measures that target the most disadvantaged segments of unemployed population in order to improve their future labour market prospects.
| Item Type: | Conference or Workshop Item (Paper) |
|---|---|
| Subjects: | Scientific Fields (Frascati) > Social Sciences > Economics and Business |
| Divisions: | Faculty of Economics |
| Depositing User: | Mr Dimitar Risteski |
| Date Deposited: | 08 Dec 2019 14:51 |
| Last Modified: | 08 Dec 2019 14:51 |
| URI: | https://eprints.uklo.edu.mk/id/eprint/2147 |
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