FX.co ★ EU unemployment hits men harder than women

The European Central Bank revealed results of a survey showing that the COVID-19 pandemic caused massive layoffs of male workers in 2020. The survey was held in European countries.

Reportedly, more men became unemployed compared to women. The data provided by the ECB came as a surprise to analysts. Most experts anticipated that the crisis will affect women to a greater extent, as statistically more of them work in industries harmed by the coronavirus aftermath.

By the end of the last year, the eurozone labor market shed 3 million jobs. Remarkably, men accounted for over 60% of those who lost their jobs. They were mainly employed in the retail and wholesale sectors. At the same time, women working in the services sector took the hardest blow. Overall, 1.9 million men and 1.2 million women became unemployed, the ECB survey said. According to experts, it was easier for women to find a new job. Due to that, the gender gap in the labor market has noticeably narrowed.