Thursday, 20 January, 2022

Unemployment insurance: the astronomical impact of the Covid on Unédic’s accounts


Meeting this Wednesday, the office of the joint association which manages the unemployment insurance scheme, estimates the impact of the crisis at 39 billion euros by 2022.

Unédic pleads for amortization over a very long time of the Covid debt.

The end of 2021 was to be that of a return to equilibrium for Unédic, the next that of the transition to surplus accounts … The Covid crisis swept everything away: gathered this Wednesday in the middle of the post- at noon, the office of the joint association which manages the unemployment insurance scheme was only able to observe the damage, a few days before the final curtain raising of a reform of unemployment benefits and employers’ contributions which braque unions and employers. Verdict: an impact of 39 billion euros, as measured by the evolution of the debt by the end of 2022!

The accounts of Unédic are victims of an implacable jaws effect. On the one hand, a drop in revenue due to exemptions or deferral of charges decided to keep companies afloat. On the other, a surge in spending on unemployment benefits or partial activity, which the regime finances up to a third entirely from its pocket, that is to say without attached resources. Consequences, levels of deficits never seen. So much so that it is difficult to imagine when a return to better fortune could occur.

Meeting this Wednesday, the office of the joint association which manages the unemployment insurance scheme, estimates the impact of the crisis at 39 billion euros by 2022.

Unédic pleads for amortization over a very long time of the Covid debt.

The end of 2021 was to be that of a return to equilibrium for Unédic, the next that of the transition to surplus accounts … The Covid crisis swept everything away: gathered this Wednesday in the middle of the post- at noon, the office of the joint association which manages the unemployment insurance scheme was only able to observe the damage, a few days before the final curtain raising of a reform of unemployment benefits and employers’ contributions which braque unions and employers. Verdict: an impact of 39 billion euros, as measured by the evolution of the debt by the end of 2022!

The accounts of Unédic are victims of an implacable jaws effect. On the one hand, a drop in revenue due to exemptions or deferral of charges decided to keep companies afloat. On the other, a surge in spending on unemployment benefits or partial activity, which the regime finances up to a third entirely from its pocket, that is to say without attached resources. Consequences, levels of deficits never seen. So much so that it is difficult to imagine when a return to better fortune could occur.