“With uncertainty around the world about how and when the coronavirus outbreak will decelerate, whole business sectors have been affected by lockdowns and are facing ruin. In Germany, more than 750,000 companies have put over 12 million employees on reduced working hours (Kurzarbeit), dwarfing the 3 million hit by the 2008 crisis. And in a survey of nearly 8,000 working people by the Hans-Böckler Foundation, 70 per cent of respondents said they felt financially insecure, with those in lower-income groups betraying most concern.”
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