Drop in Euro-Area Unemployment Masks True Pandemic Damage

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Drop in Euro-Area Unemployment Masks True Pandemic Damage

Euro-area unemployment extended its decline in November, defying economist predictions of an increase. Eurostat cautioned that the data might understate the damage the pandemic has caused though. The figures disregard people who registered as unemployed but are no longer looking for a position or aren’t available for work -- for example because they had to look after their children.

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