When the pandemic hit the European Union its economy had decelerated somewhat but unemployment had reached its lowest level for years, while inflation remained stubbornly below its 2 per cent target. Inequality had decreased, too. All these achievements were however disrupted by an enormous economic shock as the economies of the member states went into lockdown.
In 2019, EU-wide inequality had reached its lowest level since the 2007 eastern enlargement (Figure 1). After many years of stagnation, in 2016 income disparities had eventually started to decline.
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Covid-19 and Europe-wide inequality – Michael Dauderstädt
