Impact of Job Loss Due to Covid-19
Words: 758 Pages: 3 974Introduction The COVID-19 pandemic has brought unprecedented challenges to the global economy, with job loss being one of the most profound outcomes. As governments worldwide imposed lockdowns to curb the virus's spread, businesses were forced to shut down, leading to massive layoffs. According to the International Labour Organization (ILO), the pandemic caused the loss of 8.8% of global working hours in 2020, equivalent to 255 million full-time jobs. This essay explores the socioeconomic impact of these job losses, examining the […]