As the coronavirus pandemic continues to spread, many countries are seeing an uptick in job losses. In addition, the United States government has seen a surge in unemployment claims due to the pandemic, with around 3.3 million Americans filing for benefits in the past week.
In addition, Italy has now reported more than 600,000 job losses due to the pandemic, and Spain has reported over 400,000. These numbers are expected to continue to grow as the pandemic spreads. Many economists are predicting that the global economy will shrink by at least 2% this year due to the pandemic.
This could lead to more job losses as companies struggle to stay afloat in a challenging economic climate. The World Bank has already predicted that up to 20 million jobs could be lost worldwide due to the pandemic.
Countries With Most job losses Due To Coronavirus 2020
10. Iceland: 2.2% of jobs lost
The Iceland Government has released a report stating that Iceland is one of the countries with the most job losses due to the coronavirus. The number of jobs lost in Iceland is estimated to be around 2.2%. This number is based on the percentage of unemployed people and the number of people who have lost their jobs because of the pandemic. It is expected that this number will continue to grow as the pandemic spreads.
9. Australia: 2.3% of jobs lost
For countries like Australia, this could mean many job losses. The Australian government has already reported that 2.3% of jobs have been lost due to the pandemic. This number is expected to increase in the coming weeks and months as businesses continue to close their doors and people are forced to stay home.
Many people are worried about how they will support their families if they lose their jobs. The Australian government has announced that it will be providing financial assistance to those who have lost their jobs because of the virus. However, this assistance will only be available for a limited time. People must apply for this assistance as soon as possible to get the help they need.
8. Netherlands: 3.6% of jobs lost
The Netherlands is one of the countries that have suffered the most job losses due to the coronavirus. The country has lost 3.6% of its jobs, more than 113,000 jobs. The sectors that have been hit the hardest are manufacturing, retail, and hospitality. The government has announced several measures to help support these sectors, including subsidies and tax breaks.
7. Israel: 6.3% of jobs lost
Israel is one of the countries with the most job losses due to coronavirus 2020. The virus has caused a global recession, and many companies are laying off workers to save money. Over 6,000 jobs have been lost in just the past month in Israel. This number is expected to grow as the virus continues to spread.
The Israeli government is trying to help those affected by the virus. It has set up a fund to help businesses pay for their employees’ health care costs, and it is offering tax breaks to companies that do not lay off workers. However, these measures may not be enough to prevent more job losses in Israel.
The global recession caused by the coronavirus is having a devastating effect on countries worldwide. For example, over 6,000 jobs have been lost in just the past month in Israel.
6. UK: 7.5% of jobs lost
The United Kingdom has lost around 7.5% of jobs due to the coronavirus pandemic, making it one of the countries hardest hit by the outbreak. The virus has killed thousands and left businesses struggling to stay afloat. Job losses have been incredibly high in London, with many restaurants and small businesses closing their doors.
The government has announced several measures to help businesses and employees cope with the crisis, but the impact is likely to be felt. Research by the Institue for Social and Economic Research at the University of Essex predicts that there could be as many as 6.5 million job losses from the crisis. In addition, the UK’s low unemployment rate, currently at 3.9%, may soon increase almost six times.
5. Russia: 14% of jobs lost
Russia is one of the countries that have seen the most job losses due to the coronavirus pandemic. The Russian government has reported that 14% of jobs have been lost in the past month alone. This number is expected to grow as the pandemic continues to spread.
The job losses are being felt across all sectors of the Russian economy, with manufacturing, tourism, and retail seeing the most significant declines. The Russian government has announced several measures to try and mitigate the impact of the job losses, including subsidies for affected businesses and workers. Still, it is unclear if these measures will be enough to stem the tide.
4. Austria: 14% of jobs lost
Austria is among the most job losses due to coronavirus 2020. The virus has infected more than 210,000 people and caused more than 8,000 deaths worldwide. As a result of the pandemic, businesses have had to close their doors, leading to mass layoffs. In Austria, over 14,000 jobs have been lost in just three months. This is a significant number, as it accounts for 1% of the country’s workforce.
The hardest-hit sectors are transportation and tourism. In addition, restaurants and hotels have had to lay off workers en masse as demand for their services has plummeted. Other industries that have been impacted include manufacturing and retail. However, it is still too early to tell how long this downturn will last or its full impact.
3. Canada: 15% of jobs lost
The list of countries with the most job losses due to the coronavirus pandemic grows. Canada is now included on that list, with approximately 15,000 jobs lost in March 2020 alone. This brings the total number of jobs lost in Canada to around three million jobs since the outbreak began.
Most of these job losses are in the service sector, with restaurants and other hospitality businesses seeing the biggest declines. Retailers are also experiencing significant job losses as consumers shift their spending to online platforms to avoid large crowds. There is some hope that the worst may be over for Canada’s labour market, as recent data shows that the number of new cases is declining. However, it is still too early to tell whether this trend will continue.
2.US: 24.7% of jobs lost
The hardest-hit sectors are travel and tourism, retail, and food services. Restaurants and other foodservice businesses have been forced to close their doors, and retailers are seeing a sharp decline in sales. The airline industry has also taken a massive hit, with tens of thousands of workers laid off. As a result, nearly 25% of the 157.7 million people employed in the US faced unemployment.
The job losses are not just limited to the private sector. Hospitals face staff shortages as doctors and nurses fall ill or choose to stay home rather than risk exposure to the virus.
1. India: 25% of jobs lost
Since the coronavirus outbreak, countries worldwide have been struggling to keep up with the number of cases. India is one of those countries. The country has reported over 700 cases and 25 deaths due to the virus. In addition to that, the country has also lost about 25,000 jobs because of the virus. The tourism industry has taken a big hit because of the outbreak. Small businesses and labourers account for 91.3 million layoffs, while 17.8 million are salaried and 18.2 million are self-employed.
Many people are afraid to travel to India because of the virus. This has led to a decrease in hotel bookings and a loss in revenue for the industry. Restaurants and other businesses that rely on tourism have also been affected. Other sectors that have been affected by the virus include transportation, health care, and information technology. Several companies have had to lay off workers due to a decline in sales.
Source: | Love Money
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