Europe’s jobless rate steady, but doesn’t tell whole story

FRANKFURT, Germany (AP) — The jobless rate held steady in the eurozone in December at 8.3%. The figure was unchanged from November as government furlough programs are continuing to prevent layoffs. Economists caution that while that has been positive for the eurozone it can’t last forever. The jobless rate doesn’t tell the whole story because it doesn’t count people who have dropped out of the workforce, for example to take care of children at home because schools are closed. Overall, the 19 countries that use the euro have seen a deep recession, estimated at a 7.8% fall in output in 2020. Official figures on that are out on Tuesday.