Europe’s Unemployment Rate Set to Increase Next Year

(Bloomberg) -- Europe’s economy, freshly battered by coronavirus restrictions, is facing a sluggish recovery next year that leaves it open to rising company failures and long-term unemployment. Joblessness in the euro area is set to rise to 8.3% this year and 9.4% in 2021, according to the European Commission’s quarterly forecasts, published on Thursday. The situation is worst in Greece and Spain, which will both see rates at almost double the bloc’s average next year.

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