Pandemic Hitting Older Workers Harder
The coronavirus crisis has resulted in devastating impacts on livelihoods and the world’s economy. The International Monetary Fund (IMF) stated that the pandemic is pushing the global economy into its deepest recession in a century. “The Great Lockdown” – as the IMF calls the global downturn – is the worst since the Great Depression of the 1930s.As it was with other recessions and past financial crises, unemployment tends to rise quickly, and often remains elevated during said tough times.
