Béla Szörfi at Kopint-Tarki

‘Comparisons and contrasts of the impact of the crisis on euro area labour markets’  is the title of the study and the presentation that Béla Szörfi (European Central Bank, ECB), our former colleague gave at our institute on 23rd February, 2015.

The global financial and economic crisis has had a heavy impact on euro area labour markets including two euro area recessions in 2008-2009 and 2011-2013. A notable feature throughout the crisis has been the considerable degree of cross-country heterogeneity of labour market adjustments with some economies emerging relatively unscathed, while others have seen steep and persisting increases in unemployment. The ECB’s paper – coordinated by Béla Szörfi and Valerie Jarvis – analyses the impacts of the crisis on euro area labour markets, paying particular attention to the differential impact of the two euro area recessions of the crisis and the interplay of sectoral and institutional features driving labour market outcomes.
Despite on-going structural reforms in some euro area countries, progress has been partial and uneven across the euro area. Further reductions in labour market rigidities are necessary to increase and accelerate the adjustment capacity of euro area labour markets and help reduce the current high levels of structural unemployment.

The slides of the presentation can be accessed here:  2015-02-23 Kopint-Tarki, Szorfi_EA LM over the crisis


Béla Szörfi has been working as an economist at the Output and Demand Division of the ECB since 2012. His main fields are euro area labour markets and potential output issues. Previously he worked at the National Bank of Hungary (2008-2012) and at Kopint-Datorg (one of the leading economic think tanks of Hungary (2004-2008). He graduated from economic policy at the Corvinus University and from economics at the Central European University.