Position and Financial Impact

Job markets have declined and economies have plunged. In Germany, the average number of unemployed in 2020 rose from 429,000 to 2,695,000 as a German report by the Federal Employment Agency shows. While 40.0% said the pandemic has had no impact on them financially, 17.5% faced a negative impact. Only a small amount of respondents, 4,9%, felt the pandemic has had a positive impact on them financially. In some countries, people who lost their job or have been put on short-time working have the chance to get financial support from the government. Nevertheless, it is foreseeable that many small businesses and stores will find it difficult or impossible to recover from the financial burdens, as reported, for example, by the New York Times back in August 2020.