June 04, 2020
The coronavirus crisis has clobbered all European economies, but most have avoided a severe spike in unemployment. That's in part because of government programs that directly subsidize workers' wages while also incentivizing employers to keep workers on the payroll by reducing their hours. This approach has shielded much of Europe from the kind of unemployment calamity that's plaguing the United States, where the jobless rate has increased sixfold since January and is now more than double that of the Euro area. Here's a look at how European job markets have fared in the time of coronavirus.
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