Women lose $800 billion in income in 2020 | Sunday Observer

Women lose $800 billion in income in 2020

2 May, 2021

Millions of women worldwide have been disproportionately affected by job losses, with many more left to bear the brunt of massive disruptions to childcare and education.

Globally, women lost at least $800 billion in income last year, according to a new report from Oxfam International. That’s more than the combined gross domestic products of 98 countries, the $700 billion market capitalisation Amazon topped last year and the nearly $721.5 billion that the US government spent in 2020 on the world’s largest defense budget, the global organisation said.

“Economic fallout from the Covid-19 pandemic is having a harsher impact on women, who are disproportionately represented in sectors offering low wages, few benefits and the least secure jobs,” said executive director of Oxfam International, Gabriela Bucher. - CNN