Global economies inject billions of dollars to protect jobs amid COVID-19
- 4 years ago
'코로나19' 고용대란 속 미국 등 주요국도 대책 모색...고용시장 지키기 '총력전'
Other major economies are also taking measures to support employment, spending hundreds of billions of dollars to keep their companies' employees on the books.
Yoon Jung-min reports.
With COVID-19 hitting the U.S. economy hard, the Trump administration and Congress have agreed to put an additional 320-billion U.S. dollars into the Paycheck Protection Program.
The program provides government-guaranteed loans to small companies.
This comes as almost 22-million Americans filed new jobless claims between March 16th and April 10th ,... with some economists expecting unemployment in the U.S. to hit at least 15 percent.
"The U.S. job market has high flexibility which allows instant layoffs. Surging jobless claims do not necessarily match the unemployment rate exactly, but the unemployment rate in the U.S. climbed to 4-point-5 percent in March from 3-point-5 percent in February."
Meanwhile, the European Union has come up with a coronavirus relief package worth some 110-billion dollars.
The package includes wage subsidies to prevent mass layoffs,... and hundreds of billions in loans to companies.
Japan is focusing on helping companies maintain employment,... while China is providing more liquidity for companies and lowering the social insurance burden.
The International Labour Organization expects at least 200-million people to lose their jobs in the second quarter of this year due to the pandemic.
With the massive stimulus packages, countries around the world, including South Korea, are to focus on saving jobs in the most vulnerable industries,... including airlines, car makers and manufacturers.
Yoon Jung-min, Arirang News.
Other major economies are also taking measures to support employment, spending hundreds of billions of dollars to keep their companies' employees on the books.
Yoon Jung-min reports.
With COVID-19 hitting the U.S. economy hard, the Trump administration and Congress have agreed to put an additional 320-billion U.S. dollars into the Paycheck Protection Program.
The program provides government-guaranteed loans to small companies.
This comes as almost 22-million Americans filed new jobless claims between March 16th and April 10th ,... with some economists expecting unemployment in the U.S. to hit at least 15 percent.
"The U.S. job market has high flexibility which allows instant layoffs. Surging jobless claims do not necessarily match the unemployment rate exactly, but the unemployment rate in the U.S. climbed to 4-point-5 percent in March from 3-point-5 percent in February."
Meanwhile, the European Union has come up with a coronavirus relief package worth some 110-billion dollars.
The package includes wage subsidies to prevent mass layoffs,... and hundreds of billions in loans to companies.
Japan is focusing on helping companies maintain employment,... while China is providing more liquidity for companies and lowering the social insurance burden.
The International Labour Organization expects at least 200-million people to lose their jobs in the second quarter of this year due to the pandemic.
With the massive stimulus packages, countries around the world, including South Korea, are to focus on saving jobs in the most vulnerable industries,... including airlines, car makers and manufacturers.
Yoon Jung-min, Arirang News.