Citi warns that coronavirus may push 31 million women into unemployment and knock $1 trillion from world GDP
Global GDP could shrink as much as $1 trillion if a predicted 31 million women lose their jobs during the coronavirus pandemic, Citi has warned.
"Women's lesser status in the labour market leaves them more exposed and easier to lay off," the OECD warned in April.Global GDP could shrink as much as $1 trillion if a predicted 31 million women lose their jobs during the coronavirus pandemic, Citi has warned. According to the research 31 million female job losses across six sectors could amount to real global GDP loss of up to $1 trillion.
Michelic said more jobs need to be opened in both male-dominated and female-dominated industries as the majority of female jobs being lost are not due to human influence but rather due to "sector risk exposure". in April: "In the context of the COVID-19 crisis, the fear is that gender employment gaps like these leave women more vulnerable than men to job loss; that women's lesser status in the labour market leaves them more exposed and easier to lay off.
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