In light of COVID-19 governments around the globe are juggling between ensuring business liquidity and preserving workplaces. Most countries have taken the approach of increasing regulations and tailoring them to the topicalities.
Slovak large-scale employers want the highest possible wage compensation, looking up to the German or Austrian Kurzarbeit system, which covers up to 85% of wage costs. Journalists and some economists argue that we should borrow as much as we can.
Crises, particularly so severe as the one we are currently facing, have the inevitable habit of redefining the way our economic life works. The way people work, as well as the very labor market itself, will undergo significant changes.
For the third year in a row, the Lithuanian Free Market Institute and its partner organizations present the Employment Flexibility Index 2020 that ranks a total of 41 countries that are members of the European Union (EU) or the Organization for Economic Cooperation and Development (OECD).
The Slovak pension, education, and health systems and services should not depend on the government holding power at any given time. Instead, a fundamental political consensus is required. Better than calls from abroad for Slovakia to behave more rationally, the nation itself must come to its senses.
Across Europe, shadow markets constitute a significant portion of the economy. According to some estimates, an average of 16% of GDP in EU member states is generated by the shadow economy.
The EU sets minimum levels of regulation with respect to working hours. The research shows that the countries tend to comprehensively follow the set EU standards with regard to the maximum duration of work during the day, minimum periods of rest, and some aspects of annual leave.
The introduction of the controversial 500+ program in Poland has so far resulted in no increase in fertility rate. Noteworthy, 12% of the program budget would be sufficient to eliminate extreme child poverty. Meanwhile, 100,000 women were pushed out of the labor market.
Under EU legislation, Member States are required to abolish any legal provisions contrary to the principle of equal treatment and have to introduce measures that would facilitate getting legal remedies in cases of alleged violations of equal treatment.