ROME – Increase of wage guarantee funds

More than 2.5 billion hours of wage guarantee funds known as CIG and solidarity funds have been authorised in order to deal with the COVID-19 emergency, said the Italian welfare agency INPS in a statement.

The number of hours of CIG for the health emergency was 2.5399 billion, of which 1.287 billion so-called “ordinary” CIG, 782.1 million solidarity funds and 470.8 million exceptional CIG. A quarter of them were in Lombardy, the region most affected by the coronavirus.

In July alone, about 449.6 million hours were authorised.

INPS stated that in the first five months of 2020, at least 742,000 private sector jobs were lost in Italy compared to the same period in 2019, meaning that the number of new hires in the private sector decreased by 43% in that period.

(Valentina Iorio | EURACTIV.it)

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