Moody's forecasts 10% growth in global unemployment level

In a pessimist scenario, the global unemployment level may reach 10.1% in December 2020, 10.6% in March 2021, Report informs, Moody's said in a statement.

In case of base scenario, the unemployment level will be 6.5% in late 2020, 6.7% in March 2021.

"These expectations reflect an unexpected and widespread slowdown in economic activity. It was not the same in the previous crisis. Consequently, the unemployment level began to increase rapidly. Many sectors and regions are facing serious and widespread credit shakings", - the statement said.

The analysts of the agency think that as long as the situation develops, the spread of the coronavirus will lead to significant decline in consumption, problems in companies' activities, a sharp increase of defaults.