The government remains too fixated on addressing the crisis situation, while the problems awaiting the country in autumn will require bigger and long-term adaptations of the entire economy.

Companies should be allowed greater employment flexibility to survive fluctuation in orders, the paper says.

Moreover, the country should make a thorough overhaul of employment legislation and free employers of the social burden they bare for the vulnerable groups, including first-job seekers, old work force and those with low income.

While the young still need to be trained and employers are reluctant to take on the cost that comes with that, employment of older people may be an even bigger problem in the future. More than a third of the unemployed are older than 50 and most have been out of work for a long time.

"The failure to address structural problems in employment may delivery a more devastating blow in the coming years than the pandemic," the paper says under the headline Young Untrained and Old Unadapted.