Millions are losing their jobs and economies are suffering as once-bustling tourist sites give way to eerie emptiness. The Caribbean is suffering a particularly heavy blow.
Tag: Layoffs and Job Reductions
‘I Can’t Stop’: In Vast Informal Economy, Pandemic Adds to Pressure
Many workers in Latin America labor without protections, surviving day to day, making them especially vulnerable to the coronavirus.
Oil Prices Crash, Virus Hits, Commerce Stops: Iraq Is in Trouble.
Iraq depends on oil revenues, which have plummeted. The country is so desperate it is asking for donations to help it weather the pandemic.
Australia Says Goodbye to the World’s Longest Boom
Every nation confronting the coronavirus pandemic sees a recession in its future. But after nearly 30 years of economic growth, Australia is struggling to process surging unemployment and declining exuberance.
The Virus Is Coming to Myanmar, but the Pain Has Already Begun
Economic fallout from the pandemic has upended lives in the impoverished country, where the first coronavirus cases are only now being reported.
Covid-19’s Economic Pain Is Universal. But Relief? Depends on Where You Live.
In some countries, workers will have 90 percent of lost wages covered. In others, residents fear eviction. Nation to nation, rescue plans reflect conflicting ideas of government’s role in a crisis.
As Coronavirus Deepens Inequality, Inequality Worsens Its Spread
The pandemic is widening social and economic divisions that also make the virus deadlier, a self-reinforcing cycle that experts warn could have consequences for years to come.
Saudi Oil Price Cut Is a Market Shock With Wide Tremors
Oil producers in the United States and other nations brace for lower revenue, reduced investment and job losses as a global glut is compounded.
As Canada’s Frustrations Grow Over Rail Blockade, Trudeau Gets Heckled
Canada’s prime minister rejected calls to use force against Indigenous protesters opposed to a pipeline. An opposition leader asked: “Will our country be one of rule of law or one of rule of mob?”
Oyo Scales Back as SoftBank-Funded Companies Retreat
The Indian hospitality start-up is losing hotel rooms and has stepped back from more than 200 cities as part of a broader pullback by firms financed by SoftBank.