The September 2021 edition shows that the EU economy and labour market have started to recover from the COVID-19 pandemic with employment and unemployment at almost pre-crisis rates. Companies are increasingly optimistic about the future, and the Summer Commission forecast projected that the gross domestic product (GDP) in the EU will return to its pre-crisis level at the end of this year.
This edition comes with a thematic focus on the impact of floods on companies and workers. The analytical section shows that water damages have a significant and persistent adverse effect specifically on European manufacturing firms as well as on European citizens. Even after 8 years, companies in the manufacturing sector hit by flooding did not show clear signs of recovery. Productivity reached its pre-flood level after about six years, but still after 8 years, average wages in the impacted firms did not seem to fully recover.