Economy
World / Countries / MNCs Eurozone jobless rate inches up to 7.4 pct in May
Just Earth News | @justearthnews | 02 Jul 2020, 09:05 am Print
Pixabay
Brussels/Xinhua: The 19-member eurozone seasonally-adjusted jobless rate inched up from 7.3 percent in April to 7.4 percent in May, according to data released Thursday by Eurostat, the statistical office of the EU.
The data also showed that the 27-member European Union's (EU) unemployment rate rose to 6.7 percent in May from 6.6 percent in April.
In the wake of the coronavirus pandemic, European governments initiated programs to pay part of workers' salaries in return for employers not slashing the workforce.
For example, Germany compensates employers for 60 percent of employees' lost wages due to decreased activity as a result of the pandemic.
More Economy
- Microsoft quits Pakistan operations, ex-President expresses concerns
- Microsoft to lay off 9,100 employees in largest job cut since 2023
- UAE attracting 9800 millionaires in 2025: Reports
- Pakistan: Careem shuts down ride-hailing arm amid intensifying competition
- World Bank slashes global growth forecast to 2.3 pct
