'EU wants successful outcomes' of GERD negotiations: European ambassador to Egypt    Armenia to ban import of Turkish goods on Dec. 31    Palestine urges EU to impose sanctions against Israel    Britain agree to resume trade talks after week-long hiatus    Italy's daily coronavirus cases soar to new daily record above 15,000    Release of trailer for film Mafkoud: On the fate of those who went missing during the Lebanese civil war    Final countdown to 4th El Gouna Film Festival    EU leaders to hold COVID-19 video-conference Oct.29: Officials    Live score: Bayern Munich v Atletico Madrid (UEFA Champions League)    United's Rashford can be world class if he improves his poaching: Ferdinand    Chelsea clean sheet against Sevilla a big deal, says coach Lampard    Candidates poised for election marathon    Skin care in the pandemic    New services at the Pyramids    Surviving the economic damage    Sudan has transferred compensation for US bombing victims: Central bank    Egypt's Sisi attends graduation ceremony of armed forces cadets at the Military Academy    Egypt's Mahmoud Mohiedin elected as IMF executive director, board member    Egyptian insurance companies' premiums 9.6% up in five months    Egypt's President Sisi names new head of anti-corruption watchdog    Egypt's c.bank offers 18 bln pounds T-bills on Sunday    EgyptAir offering discounts for some international flights    Egypt records 212 new coronavirus cases, 14 deaths on Saturday    Egypt to require PCR coronavirus tests for airport travelers    Egypt sends 125 tonnes of glass by sea to Beirut    Legend Messi officially wants to leave Barcelona, hands transfer request    Global smartphone sales drop 20% in Q2, yet Apple's iPhone sales steady    Sisi: Egypt keen on establishing development projects with Iraq, Jordan    Egyptian megastar Amr Diab releases new hit music video    Making of Harry Potter will be available for fans at new park in Tokyo    Egypt's Senate elections official results to be announced Wednesday    Netflix Egypt is bringing megastar Amr Diab back with a new original    Egypt reopens Rafah border crossing for first time since April    Egypt's senate elections 2020 trending on social media in few days    African Champions League final will be played on Oct. 16-17, CAF says    No room to delay Egyptian Premier League games – EFA's board member    The Facebook Preacher's Search for Fame, and Egypt's Economy    Egypt calls on UNSC to address oil spill risks off Yemen coast    Egypt economically strong in face of COVID-19, reforms ongoing: International Cooperation Minister    Arafa Holding reports $144,000 COVID-19-related losses in April    Egypt's efforts in Libya to activate free will of Libyan people: Al-Sisi    Hyksos campaigns were internal takeover, not foreign invaders: study    COVID-19 affects Egypt sporting clubs    COVID-19 will soon turn to seasonal like swine flu: Presidential Health Advisor    ‘Egypt's Support' coalition convenes to discuss its Senate election list    Robbery attempt leads to discovery of Ptolemaic monuments in Qena    Flouting international guidance, Ethiopia unilaterally starts filling its Nile dam    Zaha speaks out after online racial abuse    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.





Unemployment marches higher in Europe amid pandemic
Published in Ahram Online on 01 - 10 - 2020

Unemployment rose for a fifth straight month in Europe in August amid concern that extensive government support programs won't be able keep many businesses hit by coronavirus restrictions afloat forever.
The jobless rate increased to 8.1% in the 19 countries that use the euro currency, up from 7.9% in July, official statistics showed Thursday. Some 13.2 million people were unemployed and the number of those out of work rose by 251,000.
Economists expect a further rise in coming months as wage support programs expire, while a spike in infections in many countries has led to some new restrictions on businesses and public may that may have to be broadened.
European governments have spent trillions of euros (dollars) to help businesses and to set up programs to keep workers on payrolls. In the region's largest economy, Germany, some 3.7 million people are still on furlough support programs and 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 has injecting 1.35 trillion euro ($1.57 trillion) into the economy to keep loans cheap.
But while those measures have slowed the rise in unemployment, the loss of jobs is steady and expected to continue for months. Companies in the hardest hit industries such as airlines, tourism and restaurants expect a long period of weak business and are laying off workers.
The recession in some cases has also accelerated painful change that existed before the pandemic, such as technological shifts in the auto industry. Automakers Daimler and Renault, airline Lufthansa, oil company Royal Dutch Shell and travel concern TUI have announced sweeping cost-cutting and job reductions.
While industrial firms have made a stronger recovery from the severe lockdowns of March and April, services companies have done less well. Among the hardest hit are workers and small business owners in the restaurant sector, many of whom are struggling for survival.
Waiters and cooks in Lisbon's city center, where the pandemic has seen tourist numbers drop and not everyone has been covered by furlough support.
Restaurant workers Mary Lopes, 21, Anabela Santos, 48, and Carlos Silva, 69, are among those struggling. They saw their once-buzzing restaurant in Lisbon close down completely in March. When it reopened, only a few of the staff were kept on, under tougher conditions and the others were left out of work. Santos and Silva are at least getting unemployment benefit but that barely covers their bills, Lopes is not.
``I've been working since I was 16,'' said Lopes. ``I was always complimented by the customers, so I can say I was a good waitress - I know I was a very good waitress. So I don't understand this situation we are going through.''
Santos paid five months of overdue bills when she got her unemployment benefit, and sent resumes everywhere. ``I haven't managed to find another job,'' she said.
``It's an overdose of stress because we haven't a penny in our pockets,'' says Silva. ``We are left without any money after paying rent, water, energy and then we are suffering for those thirty days until the next 28th of the month or so.''
While the jobless rate creeps up in Europe, it fell sharply in August in the United States by 1.8% to 8.4%, after a sharper increase during the spring. The U.S., which has less in the way of labor market support programs, saw the jobless rate spike as high as 14.7% in May, followed by a steep fall in unemployment as businesses and states reopened.


Clic here to read the story from its source.