Economics

Euro-Area Firms Cut Jobs With Economy in Double-Dip Recession

Employment dropped 0.3% in first quarter following 0.4% gain
19-nation economy shrank 0.6%, matching earlier estimate

A pedestrian stops to read information in the window of an employment agency office in Alcorcon, near Madrid. — A pedestrian stops to read information in the window of an employment agency office in Alcorcon, near Madrid.
Photographer: Angel Navarrete/Bloomberg

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May 18, 2021 at 5:00 AM EDT

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Euro-area businesses shed jobs at the start of the year after strict lockdowns pushed the economy into a double-dip recession.

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Before it’s here, it’s on the Bloomberg Terminal