Economics

Europe’s Virus Aid Stems Mass Jobs Destruction in Labor Shock

Rise in unemployment pales in comparison to U.S. numbers
More than 45 million jobs protected by furlough programs

Europe Needs Sufficient Timing Between Re-Opening Stages: ECDC

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By Fergal O'Brien

June 3, 2020 at 10:37 AM UTC

Updated on

June 3, 2020 at 11:46 AM UTC

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Jobless claims across Europe have surged under widespread lockdowns of economies, but the devastation pales in comparison with the shock to the U.S. labor market from the coronavirus.