Coronavirus drives surge in short-time work in Germany: labor office
Reuters
Published Mar 20, 2020 09:29AM ET
BERLIN (Reuters) - Tens of thousands of German firms announced this week they would switch employees to shorter work hours due to coronavirus, the Labour Office said on Friday, highlighting the severe impact of the outbreak on the European Union's biggest economy.
Some 76,700 companies said this week they would apply for state aid that allows them to keep people on but switch them to shorter hours, compared with an average of 600 firms a week last year, the office said.
It added demand for the special facility was particularly high in the states of Bavaria, North Rhine-Westphalia and Baden Wuerttemberg and the transport, hospitality, trade fair and tourism sectors were driving the surge.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.