Unemployment Set A Record Last Year

Four times as many jobs were lost due to coronavirus than during the worst part of the financial crisis in 2009.

Restrictions on businesses and public life destroyed 8.8% of all work hours around the world, equivalent to 255 million full-time jobs.

The United Nations noted that most people who lost work stopped looking for a job altogether, because of restrictions on businesses that hire in big numbers like restaurants, bars, stores, and hotels, which is a loss of $3.7 trillion in income globally.

A bounce back in jobs in the second half of the year is expected, but that depends on a reduction in coronavirus infections and the rollout of vaccines.

Photos by Getty Images

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