Wednesday
August 5
2020

Analysis: This Is How COVID-19 Is Affecting Informal Workers

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There are more than 2 billion people working informally, according to the International Labour Organization (ILO). That’s around 62% of the global workforce. And they’re at the greatest risk from the economic fallout created by the coronavirus pandemic.

According to the World Bank: “Informal workers on average have incomes 19% lower than formal workers and have limited savings.”

They are also less likely to qualify for government programmes to help people and businesses through the crisis, which have added up to around $9 trillion worldwide so far.

Photo courtesy of Free to Use Sounds.

Source: World Economic Forum (link opens in a new window)

Categories
Coronavirus
Tags
coronavirus, emerging economies, employment, entrepreneurship, financial services, food systems, LMICs