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But then you don't get the countercyclical effect of unemployment relief - with 20% being unemployed, you don't get an actual income reduction of a fifth...

Un roi sans divertissement est un homme plein de misères
by linca (antonin POINT lucas AROBASE gmail.com) on Wed Mar 4th, 2009 at 06:36:57 PM EST
[ Parent ]
In Germany and Austria, as well in the case of hours reduction the gov't pays some money out to reduce the shortfall in monthly income for the workers.
See the wikipage for Kurzarbeit. The monthly wage reduction has to be at least 10% that the gov't takes action and pays for 2/3 of the net difference to the full pay.

Der Amerikaner ist die Orchidee unter den Menschen
Volker Pispers
by Martin (weiser.mensch(at)googlemail.com) on Wed Mar 4th, 2009 at 07:15:44 PM EST
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