The Limited Times

Now you can see non-English news...

Corona crisis: Federal Employment Agency reports record spending for 2020

2021-02-26T15:07:35.624Z

Almost 61 billion euros: The Federal Employment Agency has never spent so much money as in Corona year 2020. This is mainly due to the high demand for short-time work benefits.



Icon: enlarge

Employment agency in Charlottenstrasse in Kreuzberg

Photo: Jens Kalaene / dpa

Due to the corona pandemic, the Federal Employment Agency (BA) spent more money last year than ever before.

That emerges from a report by the authority.

With a total of 61 billion euros, the expenditure exceeded the high of 56.8 billion euros from 2003. High costs were incurred, especially for short-time working benefits and unemployment benefits.

During the lockdown in spring 2020, six million employees were temporarily on short-time work.

Over the year, the BA paid out 22.1 billion euros in short-time work benefits.

For comparison: in 2019 it was 157 million euros, during the financial crisis between 2008 and 2012 a total of 8.5 billion euros.

Also paid more unemployment benefits

The unemployment benefit was also paid significantly more in 2020: after 15 billion euros in 2019, it was 20.6 billion euros last year.

The authority also emphasized that despite the restrictions caused by the pandemic, spending on further training rose by 56 million euros to 1.5 billion euros in the past year.

Of this, around 543 million euros went to the qualification of employees.

Icon: The mirror

bah / AFP

Source: spiegel

All business articles on 2021-02-26

You may like

News/Politics 2021-02-24T15:07:45.827Z

Trends 24h

Latest

© Communities 2019 - Privacy