COVID-19 has exposed the fragility of our economies

Guy Ryder, Modern Diplomacy

Image by Gerd Altmann from Pixabay
Image by Gerd Altmann from Pixabay

The ILO estimates that as many as 25 million people could become unemployed, with a loss of workers’ income of as much as USD$3.4 trillion. Enterprises of all sizes have already stopped operations, cut working hours and laid off staff. Because paid sick leave is not available to many carers and delivery workers – those we all now rely on – they are often under pressure to continue working even if they are ill, and this will not only increase the spread of the virus but in the longer-term dramatically amplify cycles of poverty and inequality.

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#Unemployment #Labour_Market #Economic_Collapse #Benefit_Eligibility #Fiscal_Policy