FT: economic crisis threatens 59 million EU jobs

US, WASHINGTON (ORDO NEWS) — Nearly 59 million jobs were threatened in the EU due to the economic crisis caused by the coronavirus pandemic. This was reported on Monday by the Financial Times, citing a report by McKinsey and Company, an international consulting company.

The current situation may affect more than a quarter of all employed in the private sector of the European Union. The greatest blow, according to analysts, will be done in the field of catering and housing, the hotel sector, where 74% of jobs in the risk zone are concentrated.

Almost two-thirds of such jobs are located in small and medium enterprises, which are more difficult than large companies to adapt to the requirements of remote work and social distance.

According to McKinsey’s “pessimistic scenario”, unemployment in EU countries, which will be subject to severe restrictions during the summer to curb the spread of coronavirus, could double to 11.2% by next year and are unlikely to return to the pre-crisis level by 2024, emphasizes edition.

Several EU countries are tentatively preparing, according to McKinsey senior partner Sebastian Stern, to ease restrictions on coronavirus. But the problem is that “politicians have no data or experience to cope with such a crisis,” the analyst notes.


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