A lot of companies have been forced to close in order to stop the spreading of the virus
According to LearnBonds, 2.7 billion people around the world have had their workplace fully or partly closed due to coronavirus outbreak.
The data found that 81% of the world’s 3.3 billion workers have been affected by the health emergency. This way, economic activity has been decreased due to lockdown restrictions.
Along with that, it is expected that the world may slip into a recession in Q2 2020, with firms forced to dismiss staff. Afterward, the employees will be unable to pay bills, meet mortgages or keep up with loans.
Besides, the crisis is more likely to wipe out 6.7% of working hours worldwide during Q2 2020 as well. That is the equivalent of 195 million full-time workers losing their jobs.
As to the worst-hit region, it is predicted to be the Arab states, with an 8.1% decline in working hours, or 5 million full-time workers.