Due to the outbreak of the COVID-19 businesses around the globe have taken a hit. COVID-19 originating in Wuhan, China spread rapidly across the world taking the lives of many in its wake. The virus also took away livelyhood from many people as countries went into lockdowns isolating people in their homes. This has resulted in damage to the global economy as well as a large drop in the employment rate.
As the quest to curtail COVID-19 continues, it has become imperative for lots of individuals to work from home. While the work-from-home schedule has a wide range of benefits, its numerous challenges cannot be overemphasized.
In 2020 almost 30,000 job losses were recorded across hotels, restaurants and various other dining businesses in 2020. According to recent figures the UK has seen a whopping 163% growth in job cuts across the industry.
The coronavirus pandemic has affected almost every aspect of daily life. In the employment sector, there have been significant changes. Many people have found that their secure employment is not so guaranteed, and that jobs are not as common as before.
When G7 Foreign and Development Ministers meet in London this week they will discuss investing $15 billion in developing countries in the next two years. This development fund will help women access jobs and build resilient businesses to combat the devastating economic impacts of COVID-19.