COVID-19 has already wiped out 6 million jobs, EU study finds.
The first wave of the COVID-19 pandemic exhausted some six million jobs within the European Union , consistent with a study released on Thursday, with temporary contractors, young and feminine workers sometimes hit harder than within the 2008-09 financial crisis.
The Eurofound study said teleworking, short-time work schemes and other state support helped protect jobs but also meant more people slid into protracted professional inactivity instead of figuring in unemployment statistics.
“There were 5.7 million fewer people employed within the EU by spring 2020 than at the top of 2019, and 6.3 million fewer compared with the trend growth that would are expected before the COVID-19 pandemic,” Eurofound said.
The Q4 2019 employment figure stood at 201 million workers, consistent with Eurofound, compared with some 450 million people living within the bloc. The corresponding change within the EU percentage was smaller , from 6.6 percent to six .7 percent.
“In the 12 months leading up to spring 2020, EU employment declined by 2.4%, the weekly hours of these still in work dropped by nearly one hour and therefore the share of workers employed but not working quite doubled to 17%,” it said.
Eurofound, an EU agency dedicated to monitoring and improving living and dealing conditions within the 27-nation bloc, said the amount of temporary contracts sank by 17 percent, with Spain, France, Poland, Italy and Greece particularly hit.
“Younger workers experienced the sharpest declines employed ,” said the report, stressing youth employment levels within the pandemic shrank quite during the financial crisis that started in 2008, risking another “lost generation”.
Unlike the financial and depression quite 10 years ago, it added the pandemic disproportionately affected female-dominated sectors including accommodation, food and travel.
With about half the EU workforce switching to telework, better-educated workers in urban centres were more likely to stay their jobs than others, further exacerbating inequalities.