Employment: Coronavirus crisis hits young people and low-paid workers in particular, shows Employment and Social Development Quarterly Review
The European Commission has today published the December 2020 edition of the Employment and Social Developments Quarterly Review, analysing the effects of the coronavirus pandemic on jobs and incomes. It shows that policy measures cushioned the impact of the coronavirus crisis, with employment falling less than GDP and unemployment remaining stable over the past months. Nonetheless, challenges remain. The impact of the crisis on young people is very serious, and unemployment may well rise over the next few months. Further, the review shows that the coronavirus crisis has caused an unprecedented loss in income from work. The impact has been particularly hard on workers who are already disadvantaged, such as the young and those on temporary contracts. Measures to compensate for lost wages have helped buffer the blow and support low-paid workers, who are disproportionally affected. Nicolas Schmit, Commissioner for Jobs and Social Rights, said: “The Commission has been mobilising all means at its disposal to support Member States, in particular through the SURE instrument, supporting national short-time work schemes. In addition, the new Youth Guarantee will support young people to develop skills and gain work experience, especially in areas relevant to the green and digital transitions. Placing young people at the heart of these transitions will be our priority during the recovery.” The full report is available here.
