Coronavirus Snatched Away Income Of 50% Citizens Globally; Woman Lost $800 Billion
The pandemic, ever since it has shown its ugly head, has had huge impacts on our lives, one of which is unemployment and loss of income.
One of the major issues that the country is facing right now is the pandemic stealing 50% of the income of citizens on a global scale.
1.6 Billion Adults Suffered From Loss Of Income Due To COVID-19 Pandemic
Research by US-based polling company Gallup has shown that One in two people worldwide have seen their income drop due to the COVID-19 virus. This has especially affected the people in countries with low incomes as they were impacted by job losses or reduced working hours.
The company has surveyed 300,000 people across 117 countries and the results state that half of the people who earned less was due to the COVID-19 pandemic. The approximate number stands at 1.6 billion adults on a global level.
As per a statement by these researchers, “Worldwide, these percentages ranged from a high of 76 per cent in Thailand to a low of 10 per cent in Switzerland.”
More than 70% people from countries like Bolivia, Myanmar, Kenya, Uganda, Indonesia, Honduras and Ecuador stated that they could bring home an income less than what they did before the pandemic hit.
In the US, this number stands at 34%.
Women Worst Hit By Pandemic; Lose $800 Billion In Income
Jobs and incomes of women are reportedly the worst hit by the pandemic. Another study, by the international charity Oxfam has stated that women across the globe have lost as much as $800 billion in income
Women who are over-represented in low-paid precarious sectors such as retail, tourism and food services are the ones with the greatest impact.
As per the Gallup poll, more than half of the respondents of the survey, as much as 1.7 billion adults globally, stated that they temporarily stopped working at their job or business.
More than 65 percent of the respondents from 57 countries, including India, Zimbabwe, the Philippines, Kenya, Bangladesh, El Salvador stated that they stopped working for a time.