HYPERION ECONOMIC JOURNAL

Hyperion University of Bucharest
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HYPERION ECONOMIC JOURNAL

January 2023
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The Impact of the Covid-19 Pandemic on Eu-27 Neet Young People

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Authors:
  • Mariana BĂLAN, Univ.Prof. PhD. SR I, Affiliation: „Hyperion” University – Bucharest
    Institute for Economic Forecasting – NIER, Romanian Academy, Romania;
  • Liviu LUNGU, Student, Affiliation: „Hyperion” University, Faculty of International Affairs;
Pages:  18 : 26
Abstract:

The health crisis and the economic one, generated by the first mentioned, have mostly affected youth aged 15 to 34. In the EU-27, 1.547 million young people aged 15 to 24 and another 990 thousand aged 25 to 29 lost their jobs between the fourth quarter of 2019 and the second quarter of 2020. The NEET rate (the share of unemployed youth in the labor market, nor in education and training, out of the total youth population) is a relatively new indicator that has gained increasing importance in the last two decades both in the approaches of international organizations and in the media. Recently, it has seen significant increase due to the Covid-19 crisis. The high rates of NEET youth represent a major challenge for every country, not only because of the risks of the "scarring effect", but also because of the negative effects of these statuses on future labor market outcomes for the individual, and the community and society in which they live. Assessing the economic and social consequences of NEET statutes plays an important role in developing policies for young people and in taking measures to increase their integration into the labor market and to encourage them to remain in education or training systems. This paper presents a brief analysis of the structure, educational and gender composition of NEET groups, in the period preceding the health crisis and under its impact.

JEL classification:  I24, J13, J21, J64, J89

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