From Maria Alejandra Madi According to ILO, the COVID-19 epidemic was changed from a public health disaster to an employment and social crisis. The pandemic has had a devastating impact on worldwide public health, employment, and daily life. In this scenario, a lack of comprehensive policy initiatives exacerbates inequality and limits overall workplace growth. Among the most significant labor-market outcomes, we can recall: 1. Because many firms, particularly micro and small businesses, have already gone bankrupt or face a highly uncertain future, this has an impact on the business sector, which generates the majority of jobs. 2. In 2020, an estimated 8.8 percent of all working hours were lost — the equivalent of 255 million full-time workers working a year. Furthermore, the global
Topics:
Editor considers the following as important: Uncategorized
This could be interesting, too:
Stavros Mavroudeas writes CfP of Marxist Macroeconomic Modelling workgroup – 18th WAPE Forum, Istanbul August 6-8, 2025
Lars Pålsson Syll writes The pretence-of-knowledge syndrome
Dean Baker writes Crypto and Donald Trump’s strategic baseball card reserve
Lars Pålsson Syll writes How economists forgot the real world
from Maria Alejandra Madi
According to ILO, the COVID-19 epidemic was changed from a public health disaster to an employment and social crisis. The pandemic has had a devastating impact on worldwide public health, employment, and daily life. In this scenario, a lack of comprehensive policy initiatives exacerbates inequality and limits overall workplace growth.
Among the most significant labor-market outcomes, we can recall:
1. Because many firms, particularly micro and small businesses, have already gone bankrupt or face a highly uncertain future, this has an impact on the business sector, which generates the majority of jobs.
2. In 2020, an estimated 8.8 percent of all working hours were lost — the equivalent of 255 million full-time workers working a year. Furthermore, the global labor shortage will have grown by 144 million jobs. By 2020, an additional 108 million employees will be severely or moderately poor, living on less than $3 a day. The number of jobless persons is expected to climb from 187,000 in 2019 to 230,000,000 by 2020. Unemployment will rise as the working-age population expands and GDP expands slowly. read more