Oxfam: Covid-19 cost women more than €650 billion in lost income
Share article:
Share article:

Oxfam: Covid-19 cost women more than €650 billion in lost income

Unemployed domestic worker, Rasu Begum, from Dhaka in Bangladesh. © Fabeha Monir for Oxfam

Women across the world lost at least $800 billion (about €665bn) in income as a result of the coronavirus pandemic, according to a report by the charity Oxfam.

One of the reasons for the cut – equivalent to the entire GDP of 98 countries – was the loss of jobs. While men suffered a 3.9% cut in jobs, for women the cut was 5%, or the equivalent of 64 million jobs.

“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 Gabriela Bucher, executive director of Oxfam International.

Instead of righting that wrong, governments treated women’s jobs as dispensable —and that has come at a cost of at least $800 billion in lost wages for those in formal employment,” she said.

And the estimated total does not include the wages of women in informal employment, such as domestic workers, market vendors and women in the garment industry, who have seen their wages cut or gone entirely as they were simply sent home.

According to the International Labour Organisation (ILO), the informal economy – jobs that come with no contract, no benefits and no assurance of employment, but also no taxation or declaration of income – accounts for some 1.6 billion jobs across the world.

Those people were particularly hard hit by the economic effects of pandemic and lockdown, the ILO says, with a decline in earnings of 60% globally, with Africa and Latin America suffering losses of up to 81%.

In addition, the rate of relative poverty – the proportion of workers whose monthly income is below 50% of the median in the local population – is expected to rise by 34% for informal workers in general, ranging from 21 percentage in countries with higher pay, to 50 percentage points in low-paid countries.

Unemployed women in Dhaka line up at a food bank
© Fabeha Monir for Oxfam

Oxfam also offers a striking comparison: while women across the world were losing $800 billion in income, a company like Amazon added $700 billion to its market value. And the United States spent $721.5 billion on military spending.

The effects of these dramatic changes will be unevenly felt for years to come,” Oxfam concludes. “An additional 47 million women worldwide are expected to fall into extreme poverty, living on less than $1.90 a day in 2021. In the US, one in six women of colour are facing food insecurity because of the pandemic. According to the World Economic Forum, closing the global gender gap has increased by a generation from 99.5 years to 135.6 years due to negative outcomes for women in 2020.”

Latest news

Experts call for more widespread use of masks as figures rise
As coronavirus figures continue to rise, Belgian Prime Minister Alexander De Croo has suggested that people return to wearing masks when indoors with ...
Belgium wants to recover €420 million in wrongfully paid out coronavirus aid
The Belgian State intends to recover €420 million of unduly paid Covid-19 aid, La Libre Belgique reported on Thursday. The electronic Council of ...
Why the fight for transgender rights is polarising Europe 
Year after year, Samuel De Schepper would ask Santa Claus to bring him a penis for Christmas. Born female and attending an all girl’s Catholic ...
New offshore wind farm officially opened
Despite being operational since the end of 2020, the SeaMade offshore wind farm was officially inaugurated on Wednesday by Prime Minister Alexander ...
Contact tracers have no time for calls, only texts, amid rising cases
Contract tracers will no longer make phone calls to the high-risk contacts of people who test positive for the coronavirus beginning from Wednesday, ...
Belgium holds on to top spot in FIFA rankings despite recent losses
Once again, Belgium's Red Devils have held onto their position at the top of the world football rankings, according to an update released by the ...
Proximus pushes for high-speed internet in Brussels and Wallonia
Fifteen municipalities in Wallonia should soon have access to high-speed internet through the rollout of fibre optics in the region, telecoms giant ...
Why Belgium is regulating sex work
After decades of confusing rules and hypocritical policy, Belgium is finally regulating sex work by removing prostitution from the criminal law. ...
World’s largest chocolate warehouse opens in Flanders
On Thursday, Barry Callebaut – the largest global chocolate processor and manufacturer – opened the world's largest chocolate warehouse in Lokeren, ...
Belgium in Brief: Equal Opportunity To Dance
There's a phrase where I'm from, more often said in jest nowadays, but it came to my mind this morning: "Ye dancin'?" (Are you dancing?), one ...
Farmer discovers cocaine in banana boxes bought in Brussels
A Flemish farmer who purchased boxes of bananas at the market in Brussels on Tuesday came home to discover large amounts of cocaine packed among the ...
Changes to speed cameras increase likelihood of a ticket
Changes to the way speed cameras work in Flanders and Wallonia will increase the likelihood of receiving a ticket when cars pass them above the ...