In 2020, when pandemic measures such as lockdowns and travel bans depressed economic activity worldwide, the median employment income of the working age population (18-64) in the 27-member European Union was down 7% from the previous year, the bloc said Monday.
“However, the median disposable household income as well as the at-risk-of-poverty rate remained stable, with varying trends across countries,” said the EU’s statistical agency Eurostat announced.
A statement said the losses stemmed mainly from reduced working hours, while “the usual government transfers and taxes as well as temporary policies helped to offset the impact of the COVID-19 crisis on disposable household income.”
These measures were important for stabilizing wages and incomes, especially for lower-income people, who were hit harder by the pandemic fallout, it added.
Source: Anadolu Agency