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The document discusses how the COVID-19 pandemic is negatively impacting the poor through job losses, income shocks, and diminished livelihoods, putting their lives and livelihoods at risk. It may result in the first increase in global poverty according to estimates. Poorer households and those relying on informal employment are among the most vulnerable.

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Lois Razon
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15 views1 page

Intro

The document discusses how the COVID-19 pandemic is negatively impacting the poor through job losses, income shocks, and diminished livelihoods, putting their lives and livelihoods at risk. It may result in the first increase in global poverty according to estimates. Poorer households and those relying on informal employment are among the most vulnerable.

Uploaded by

Lois Razon
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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The impact of the coronavirus disease (COVID-19) pandemic on the

poor is growing by the day powing to job losses and other income
shocks and diminished livelihoods.
The shocks and stresses of the COVID-19 pandemic are causing devastating
socioeconomic disruptions around the world, putting people's lives and livelihoods in
jeopardy. As a direct result of the economic crisis, tens of thousands of people are
losing their jobs and falling into the trap of impending poverty. According to recent
statistics from the International Labor Organization, 50 percent of the global workforce
may lose their jobs as a result of the coronavirus pandemic, with 1.6 billion workers in
the informal economy at immediate risk of losing their source of income. Furthermore,
for every percentage point of global economic slowdown, the number of people living in
poverty COVID-19, according to Sumner et al, could result in the first increase in global
poverty. This crisis has had a significant impact on the mental health and well-being of
all societies, and many people are distressed as a result of the virus's immediate health
effects and the consequences of physical isolation, fear of losing loved ones, and fear of
death from hunger. Poorer households and those who rely on informal employment are
among the most vulnerable members of society. It includes casual day laborers, small-
scale producers, and many others who, in both urban and rural settings, have less
access to social protection due to a lack of savings or alternative sources of income.
Overall, the socioeconomic conditions of the majority of people in developing countries,
forced lockdowns that fail to meet basic human needs, and poor governance,
communication, infrastructure, and health-care facilities would cause public anxiety and
disruption. Poor people in rural areas are at risk of losing their primary source of
income because they are unable to sell their agricultural products, are unable to store
their produce, or are having difficulty producing new products. Poor people in cities, on
the other hand, are completely reliant on earnings from labor or self-employment.

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