FRANKFURT – The unemployment rate was steady at 8.3% in December in the 19 countries that use the euro, as government support programs aimed at getting the economy through the pandemic continue to hold down layoffs — for now.
The jobless figure published Monday by the EU's statistics agency is up from 7.4% December 2019, before the pandemic caused governments to impose restrictions on businesses to fight the spread of the coronavirus.
While the fact that the unemployment rate rose only slightly during the pandemic is good news, economists say government support may only be postponing days of reckoning for many companies.