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Is this much job loss happening elsewhere, like Europe?

• kasey_junk 7y ago
  Yes. Spain lost about 10% of its workforce in March. Italy is expected to go from projected 0.5% GDP growth to -3% (or even up to -10% by some projections). I saw one estimate that 60% of Italy’s manufacturing plant was shut down by COVID.
  • _curious_ 7y ago
    So how can reality be determined when employment has become such a facade?
• Leherenn 7y ago
  Here it's mostly "partial layoffs". Basically you're still employed and can be asked to work at any time (e.g. 40% on Monday, 0 until Friday and 10% on Friday). When not working, 80% of the salary is paid by then unemployment office. As far as I know, it means you cannot do another job instead, you're still on payroll. Though individual employer might show goodwill. As a result, "real" unemployment has barely increased, but about 1/3 of the workforce is on some kind of reduced hours (or their company has signed up for the scheme, though not necessarily reduced hours yet, it's not clear to me).