THE IMPACT OF SHORT-TERM EXOGENOUS SHOCKS ON LOCAL LABOUR MARKETS: AN EMPIRICAL EXERCISE FOR ITALY (2006-2021)

Abstract

In this paper, we investigate the spatial regime and the short-term changes following both activity and unemployment rates. These rates are taken as proxies of the functioning of 610 local job markets in Italy as reflected in the homogeneous districts delineated by Italian National Statistical Institute and called ‘Sistemi Locali del Lavoro’. The time horizon spans over a relatively long time period (2006-2021) encompassing the long economic crisis (2007-2013), a period of economic stagnation or moderate recovery (2014-2019) and the Covid-19 time (2020-2021). Based on a purely exploratory approach, the empirical analysis has identified the socioeconomic factors more effectively characterizing the job market dynamics.