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The number of people on British company payrolls fell by more than 600,000 in April and May as the coronavirus lockdown hit the labor market, and vacancies plunged by the most on record, official data showed on Tuesday.
While lockdowns undoubtedly avoided large numbers of deaths from the new coronavirus, the repercussions of the pandemic response are expected to blight economies and health systems long after restrictions are lifted.
France was already one of the worst places in Europe to be a young job-seeker because of a rigid labor market and resulting shortage of long-term contracts. When the coronavirus hit, finding employment, even as an apprentice, became tougher.
The economic fallout from the coronavirus pandemic could plunge an extra 395 million people into extreme poverty and swell the total number of those living on less than $1.90 a day worldwide to more than 1 billion, researchers said in a report on Friday.
