Coronavirus ATTACKS British Airways Staff & US JOB Market

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The novel coronavirus pandemic continues having its serious impacts on the workforces worldwide as British Airways (BA) is set to furlough (grant leave of absence) about 28,000 workers due to the coronavirus crisis, according to a statement from the United Kingdom’s leading union. On the other hand, a non-partisan think tank in the USA recently provided a grave warning that at least 20 million workers in the country will likely be laid off or furloughed by July this year.

Unite, BA employees’ union, said April 1 that it had reached an agreement with the airline on how workers’ interest will be protected during the ongoing crisis.

Unite added in the statement that 28,000 workers will be suspended and will receive 80% of their pay. Under the plan, the UK government will pay 80% of salaries up to £2,500 ($3,093) a month. British Airways will then cover any earnings above that, to ensure that all employees earn 80% of their monthly salary.

Unite and British Airways agreed that there will be no unpaid temporary lay offs and no redundancies during this period, according to the statement. The deal now waits for final approval by Unite’s members at the airlines.

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On the other hand, the novel coronavirus, officially known as Covid-19, is putting a strain on the US job market also as a leading think tank, bases in the USA, portends that about 20 million workers in the country would likely lose their jobs to the ongoing corona pandemic.

In a blog post on Monday, the Economic Policy Institute(EPI) estimates that this will bring unemployment rates “into the mid-teens.” The estimates account for the recently enacted CARES Act and assumes a fourth coronavirus relief bill, EPI said.

American multinational Investment bank Goldman Sachs also echoed the same as EPI. The bank foretells that unemployment rate in the USA will be rising to 15% by the middle of the year, compared to 9% before out of the coronavirus fallout. Source : CNN

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