The pandemic has asked many difficult questions of Europe’s governments, from whether to close down schools to which companies to bail out.
Europe’s labour markets are in a very precarious state. Take the UK: the country’s headline unemployment rate stayed at 3.9% in the second quarter of 2020, as companies kept workers on their payrolls because of the government’s generous furlough scheme, and people without a job couldn’t actively search for a new one . However, the picture was more troubling when you looked at how many Brits actually have jobs.
And yet, this slow return to normality is forcing politicians, including UK chancellor of the exchequer Rishi Sunak, to rethink the extraordinary support they’ve provided in the first half of this year. As well as the extreme cost of furloughing, politicians also worry that it provides the wrong incentives to companies and workers, by propping up zombie firms and encouraging shirkers.
Ireland Ireland Latest News, Ireland Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
UK job market suffers massive loss due to Covid-19 pandemic job cutsAt least 220 000 were left without jobs in the United Kingdom after the country was put into lockdown as a result of the coronavirus pandemic, official figures showed Tuesday.
Source: IOL - 🏆 46. / 51 Read more »
RMI has intriguing options for cut-throat UK insurance marketRMI and Outsurance will be able to increase their shareholding in Hastings to 40% while working with an ambitious Finnish giant
Source: BDliveSA - 🏆 12. / 63 Read more »
UK finance sector says it will tackle diversity amid BLM movementAbout 2.7% of jobs in the financial and insurance sector in the UK are held by black people, with many banks now signing a Race at Work Charter
Source: BDliveSA - 🏆 12. / 63 Read more »