Unemployment The Coronavirus and the quarantining measures that accompany it have led to a significant increase in the number of unemployed populations across the countries of Europe. Commonly, several types of unemployment are identified depending on the causes and duration of the workforce supply and demand inconsistencies. In particular, there are three main categories of unemployment, including structural, frictional, and seasonal. Frictional unemployment is caused by the time that is needed for potential employees to find positions that satisfy their skills and requirements. As for structural unemployment, this type is connected with the lack of available job positions for every candidate who seeks work. Sectoral shifts, which constitute the changes in demand among regions or industries, are the main cause of structural unemployment (Levernier and Yang, 2011). It means that there are more people in need of a job than there are jobs available. The main difference between structural and frictional unemployment types is that “structural unemployment may involve job searches in a broader range and possibly over the longer‐time period than frictional unemployment does” (Levernier and Yang, 2011, p. 61). Finally, seasonal unemployment occurs on a periodic basis; the demand and supply in the workforce change with seasons and are highly predictable. Concerning the effects of the Coronavirus crisis on the unemployment rate, significant changes are continuously detected across the countries of the European Union. According to the latest statistical data provided by Eurostat (2020, p. 1), as per March 2020, “the month when COVID-19 containment measures began to be widely introduced by the Member States, the euro area seasonally-adjusted unemployment rate was 7.4%, up from 7.3% in February 2020”. Also, Eurostat estimates that 14.141 million people had the status of unemployed in March 2020; the number increased by 241 000 in the European Union (Eurostat, 2020, p. 1). Figure 1 (see Appendix 1) shows the changes in unemployment rates in the European Union over years (Eurostat, 2020). Due to the fact that many organizations have shortened the volume of their operations and staff during the Coronavirus epidemic, many people will need to seek new positions for employment for a more extended period of time during the crisis. However, the shortage in work supply and the increase in the number of people in search of a position cause a significant level of structural unemployment. Analysis of EU-wide Unemployment Insurance Scheme The institutions of the European Union are discussing the possible measures to reduce the harmful effect of the crises on the unemployment rate by introducing specifically designed insurance schemes. The situation that the Eurozone countries observe now, in terms of the pandemic’s causes of job shortage, the prevalent unemployment type that is targeted by the EU unemployment insurance is aimed at temporary structural unemployment. The European Commission anticipates that the impact of the crisis caused by the virus will be more harmful than any other economic crisis experienced by the countries in the recent past. The initiative to implement unemployment insurance is aimed at reducing