EU - the have and the have nots: Covid-19 and Europe-wide inequality – by Michael Dauderstädt

When the pandemic hit the European Union its economy had decelerated somewhat but unemployment had reached its lowest level for years, while inflation remained stubbornly below its 2 per cent target. Inequality had decreased, too. All these achievements were however disrupted by an enormous economic shock as the economies of the member states went into lockdown.

In 2019, EU-wide inequality had reached its lowest level since the 2007 eastern enlargement (Figure 1). After many years of stagnation, in 2016 income disparities had eventually started to decline.

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USA: Unemployment was rising even before coronavirus crisis - by Russell Lynch

Unemployment was already rising even before the impact of coronavirus on the jobs market, official figures revealed on Tuesday.

The Office for National Statistics said there were 1.34 million people unemployed in the quarter to January, 5,000 more than a year earlier. That marked the first rise in annual unemployment for more than seven years, statisticians said.

Economists warned of worse to come and said that unemployment may stay at an “elevated” level until the end of the year as a result of the virus – with as big an impact on the jobs market as the financial crisis.

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