Employment Cyclicality in the EU Financial Sector from a Gender Perspective

The article analyses the procyclical nature of employment in the financial sector of EU countries (2008–2024), focusing on how economic fluctuations affect job stability among men and women. Extending existing research on cyclical sensitivity, it incorporates the concepts of labour market hysteresis and crisis scarring. Using hierarchical cluster analysis (HAC) and spectral time series analysis, the study identifies three groups of countries differing in employment stability and exposure to economic cycles. Results reveal notable gender asymmetries: men are more responsive to abrupt fluctuations, while women display slightly higher stability, though still subject to cyclical pressures. Cross-country differences in fluctuation patterns reflect institutional and technological factors, including regulatory intensity and historical legacies. The findings indicate that employment cycles vary not only in magnitude but also in persistence across genders and national contexts, highlighting structural vulnerabilities. These insights advance understanding of labour market resilience and support the formulation of gender-sensitive employment policies in times of economic turbulence.