Unemployment rose for a fifth straight month in Europe in August and is expected to grow further amid concern that extensive government support programs won't be able keep many businesses hit by coronavirus restrictions afloat forever.
Catch up on the developing stories making headlines.FRANKFURT, Germany -- Unemployment rose for a fifth straight month in Europe in August and is expected to grow further amid concern that extensive government support programs won't be able keep many businesses hit by coronavirus restrictions afloat forever.
European governments have approved trillions of euros to help businesses, setting up or bolstering programs to keep workers on payrolls. In the region's largest economy, Germany, some 3.7 million people are still on furlough support programs. With no clear end to the pandemic in sight, the government has extended that through the end of 2021. The program pays over 70% of the salaries for workers put on short hours or no hours. The European Central Bank is injecting 1.
“I’ve been working since I was 16,” said Lopes. “I was a good waitress - I know I was a very good waitress. So I don’t understand this situation we are going through.” The pandemic is sending unemployment higher around the globe. Outside the 27-country European Union and its 19 members that use the euro, Britain faces a sharp increase in unemployment as the government plans to replace a broad furlough support program at the end of October with a more limited version. Some economists expect the unemployment rate to double to 8% by year end. A lack of progress on reaching a new trade deal with the EU is only likely to worsen things.
Among the hardest hit are workers and small business owners in the services industries, many of whom are struggling for survival, and independent contractors and temporary workers.
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