- While millions of U.S. workers thrown into unemployment by the coronavirus pandemic fret about feeding their families, idled German airline purser Marco Todte is mainly concerned about his next vacation.
FILE PHOTO: Hundreds of people line up outside a Kentucky Career Center hoping to find assistance with their unemployment claim in Frankfort, Kentucky, U.S. June 18, 2020. REUTERS/Bryan Woolston
The failure of Congress to agree on replacing the $600-a-week extra unemployment benefit before its expiry on Friday means his family’s finances are now in jeopardy. The European approach, building on schemes like “Kurzarbeit” already in existence, has been to use costly state subsidies to keep workers on company payrolls with wages near regular levels even when they work part-time or not at all.
That approach has been lauded by the European Central Bank for supporting consumer morale and buffering household income, seen by many economists as key to the recovery.
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