Accountancy

Global workers’ income loss due to Covid-19: $3,500,000,000,000

Global pay has fallen by more than 10% in 2020

Workers around the world have lost a combined $3.5tn in pay because of the Covid-19 epidemic, the International Labour Organisation (ILO) has estimated.

The loss of working hours caused by the pandemic has led to a 10.7% drop in global labour income in the first three quarters of 2020 compared to the same period last year, the United Nations agency said.

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Europe Draws Up Retaliatory Tariffs for U.S. Goods in Case No Trade Deal Is ReachedExternal link

Europe Draws Up Retaliatory Tariffs for U.S. Goods in Case No Trade Deal Is Reached