Coronavirus: impact on Global Economy - BBC News

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The US economy suffered its most severe contraction in more than a decade in the first quarter of the year, as the country introduced lockdowns to slow the spread of coronavirus.

The world's largest economy sank at an annual rate of 4.8%, according to official figures released on Wednesday.

It marked the first contraction since 2014, ending a record expansion.

But the figures just hint at the full crisis, since many of the restrictions were not put in place until March.

The pandemic "is causing tremendous human and economic hardship across the United States and around the world", policymakers at America's central bank said on Wednesday.


Half of the world's workers are in danger of having their livelihoods destroyed by the coronavirus pandemic, a United Nations agency has warned.

The International Labour Organisation's updated analysis emphasises its severe impact on people in informal work.

It says many have already suffered massive damage to their capacity to earn a living.

Without alternative income, these workers and their families would have no means to survive, it says.

The new analysis says 1.6 billion people's livelihoods are threatened by the virus, equivalent to almost half the global workforce.

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💬 Comments on the video
Author

Before easing of lockdown, I realized the essence of self employment, i been looking into the market lately and on one Investment podcast i listened to, an investor went over how he made $350, 000 within a month of investing $100, 000 and as a beginner, i would appreciate any clue or strategies to make good profit.

Author — Caroline Kelly Sarin

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This just shows how precarious our civilization is .

Author — grey walker

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I only clicked hoping to see something about the Jobcentre and unemployment in the UK

Author — Kalo

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long as I have enough food.... drink and shelter against the listen to....play and a bit of could pretty much care less about the Global Economy. I leave that over hyped concern to the wing tip wearing 2 faced stab you in the back greedy suits who care more about their lavish houses....their summer homes....their priced shiny most important.... their money and profit more than they do people.Guess I'm just a simple fool who doesn't know what's really important in our one and only lives.

Author — Stephen Michalski

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5 weeks of lockdown causes all of this...wow
Civilisation is unstable and unsustainable.
The planet needs a holiday too from our activity.

Author — gavloft

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The United States Response to Covid-19 has been ass.

Author — Anew-Wiseman

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The poor becomes poorer. The rich becomes richer. Simple as that.

Author — SAM

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No one will be able to afford a tv license. The bbc will starve.

Author — Harry Barry

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“I've got the guts to die. What I want to know is, have you got the guts to live?” Tennessee Williams.

Author — New Sameoldfitup

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FFS that kid on a bike with a bus passing! Space cadet on her phone. Deary me! Fkn howlers shouldn't be in charge of small people.

Author — Geri Mack

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At last china succeeded in its mission.

Author — NILESH OMPRAKASH SHAH

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Governments show how they don't care about citizens.

Author — Nerijas

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I seen a FIAT falling off a cliff earlier today...

Author — Steve Parker

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Europe needs to shut its borders pronto!

Author — Loki whispers

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Johnson needs to go !!! His failure to manage this crisis in the UK is beyond a joke

Come on Mr johnson do the right thing and resign

Author — The Last Spartan

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And then you have so many millions of tones of food wastage in Develloped countries,

Author — Aaron Singh

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Here it comes Folks, buckle up n get ready to pay your dues. I Love you my fellow free man and woman, these are the end times for us, our children will look back on us and say we should have stood up and fought for their futures, if you tolerate this then your children will be great awakening is upon us now, take the chip or die.

Author — May Smith

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Simple solution is just have to leave the way we were leaving without worrying much . Everything will be alright

Author — Mr. Anony

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Is "Job centre plus" a propaganda agency?

Author — Cenedlaetholwr Cymreig

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Yo 30 mill thats the whole population of my country

Author — mo brown