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U.N. Labor Body Says the Pandemic Cost Workers $3.7 Trillion in Lost Wages 

HeadlineJan 26, 2021

The International Labour Organization warns wages fell by $3.7 trillion in 2020, with the coronavirus pandemic eliminating the equivalent of more than a quarter-billion full-time jobs. Job losses around the world were four times worse last year than during the global financial crisis that began in 2007.

This comes as the International Chamber of Commerce is warning vaccine nationalism could cost the global economy $9.2 trillion if governments fail to provide poorer nations with access to COVID-19 vaccines. Nearly half of the losses would impact wealthier countries.

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