How the coronavirus crisis is affecting the German labour market
News from 2020-05-13 / KfW Research
The short-time allowance secures millions of jobs. This contrasts with the US, where 34 million workers have filed unemployment claims. But if the lockdown lasts too long, many workers on short-time arrangements are likely to become unemployed. It therefore appears to be advisable to relax social distancing rules as much as possible and expedite development of a vaccine or treatment. The public and private sector should join forces to achieve this in a concerted approach – at international level.