Quarter of Europe’s jobs at risk due to the COVID-19 crisis, report says

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More than a quarter of all jobs in Europe could be jeopardized by the economic repercussions prompted by the coronavirus pandemic, says a report released by McKinsey today.

According to the consultancy company, up to 59 million jobs are at risk of things like reduced working hours, temporary furloughs or permanent job losses.

Unemployment could almost double in the upcoming months, particularly in such sectors as  customer service and sales, food services and building occupations.

“Europe must avoid the significant rise in unemployment witnessed during the 2008-9 financial crisis,” when the unemployment rate rose by 27 percent, the report warns.

More available here.

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