Coronavirus: “Hundreds of Thousands” of People Will Lose Their Jobs in France, Warns Bruno Le Maire

"Hundreds of Thousands" of People Will Lose Their Jobs in France, Warns Bruno Le Maire

UNEMPLOYMENT: Faced with the recession, 45 billion euros will be put on the table in an attempt to preserve jobs as much as possible, announced the minister.

To cope with the “wave of difficulties” which threatens the job market after confinementBruno Le Maire announced the creation of “new solutions” to help the households most in difficulty. The Minister of Economy warned on Tuesday that “hundreds of thousands” of people will lose their jobs in the coming months.

“  We have before us a wave of bankruptcies, a wave of very violent employment problems. We are preparing for it and we want to face it by finding new solutions, ”assured the Minister of Economy on RTL Tuesday evening.

Solutions to “preserve jobs”

While the government must present Wednesday to the Council of Ministers the third part of the amending finance bill to deal with the crisis, Bruno Le Maire said that 45 billion euros would be put on the table to try to preserve as much as possible employment despite the coming severe recession.

“We are at just over 8% unemployment and I’m talking to you about hundreds of thousands more unemployed, this is, without doubt, the most realistic prospect today”, recognized Bruno Le Maire. “We are going to be led to take original, singular measures” to “preserve employment at any cost in France”, he added.

He mentioned, “partial activity arrangements which make employees stay in the company rather than leave the company”. “We can also consider that employees move from one company to another,” he said.

Towards sectors subsidized by the State?

While reiterating his hostility to an increase in taxation to finance the crisis, he declared himself “open to ideas of” checks “which allow supporting those who are really the most in difficulty”. “We can consider checks, which can be green checks for people who are most in trouble to boost demand,” he said.

The minister also said he was interested in ideas put forward recently by three economists from a think-tank set up by the Elysee Palace who propose that the state subsidize the wages of workers in the most affected sectors. “It is an idea which is entirely conceivable” he judged.

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