In Germany, they call it “Kurzarbeit.” In France, it’s “Chômage partiel.” The Brits refer to the acronym, CJRS—short for “Coronavirus Job Retention Scheme.”
Together, these policy names form the backbone of Europe’s plan to keep unemployment here from spiking à l’américaine.
U.S. employers have already shed roughly 22 million jobs in the past month, with the pending Thursday’s jobless claims numbers suggesting it’s even worse than that. In Europe it’s a bit better—18 million workers across the Continent have been furloughed, the Wall Street Journal reports, citing government statistics.
