“Catastrophic” Debt, Unemployment Predicted in France Due to Covid-19

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                La France de l'assurance chômage, selon l'agence de ses dépenses à l'horizon 2020 devrait augmenter de 43% d'ici la fin de l'année, avec des milliers d'autres gens d'ajouter leurs noms à la liste de chômage due à la crise économique provoquée par le coronavirus.
            

L'Unédic de dépenses de hausse de 17,7 milliards d'euros en 2020, tandis que les revenus de cotisations sociales payées par les entreprises auront baissé de 16% par rapport à 2019, à environ 33 milliards de dollars.

Unédic says it expects the loss of nearly 900,000 jobs in France by the end of the year, which corresponds to an additional 630,000 people on unemployment benefits from the pay.

In a statement released Thursday, Unedic forecast its deficit to reach 25.7 billion euros by the end of the year, taking into account the economic context defined by the Covid-19 crisis.

He allocated the $ 63.1 billion debt to the government part-time unemployment mechanism, whereby the government subsidized wages during the Covid-19 lockdown.

Unédic is funding a third of the short-time working scheme, the rest is funded by the state.

Major, increased debt

Debt had already increased from 36.8 billion euros at the end of 2019 to 42.6 billion euros by April 23, up to the lock in period, in place since mid-March.

By 2020, spending on unemployment is expected to reach around $ 59 billion overall, a 43 percent increase from 2019.

CGT union says 900,000 job losses across the country is “catastrophic”.

He said it would lead to a double risk, more unemployment, coupled with the pressure to change benefits in exchange for debt reduction.

In the first quarter, according to the national statistics agency of INSEE, 497,000 jobs were lost in the private sector, most of the temporary contracts during the period.

            

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