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Europe’s job retention schemes have created 9 million ‘zombie jobs,’ analyst warns

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Europe is FILLED with zombie workers and zombie jobs. And not just because of Covid. How France gets anything done, given its employment laws, is a mystery to many of us on this side of the Atlantic.

(From CNBC)

“In the five largest European countries, we estimate that 9 million workers or 20% of those currently enrolled in short-work schemes, face an elevated risk of becoming unemployed in 2021 because of the muted recovery in late bloomer sectors and the policy cliff effect,” Ludovic Subran, chief economist at Allianz, wrote in a report.

“We call these zombie jobs; they require ad hoc policies to avoid postponed mass unemployment.”

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Source: https://www.ac2news.com/2020/06/europes-job-retention-schemes-have-created-9-million-zombie-jobs-analyst-warns/


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