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Economy

Clock ticks on 100m jobs as global stimulus packages expire

US, Japan and Europe brace for second wave of unemployment

People stand in line to apply for unemployment benefits in the U.S. state of Kentucky.   © Reuters

LONDON/TOKYO -- The fate of 100 million jobs hangs in the balance as a potential second wave of unemployment caused by the coronavirus pandemic looms over Japan, the U.S. and Europe with a combined $1 trillion worth of stimulus measures set to expire in the coming months.

The U.S. added 4.8 million jobs in June, the Labor Department announced Thursday, dropping the unemployment rate to 11.1% from a peak of 14.7% in April, as the country aggressively pushed to restart economic activities.

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