500 million jobs lost, global economy losing $375 billion a month to covid: UN

The current pandemic is costing the global economy $375 billion a month, and has seen some 500 million jobs lost since the crisis struck, the United Nations said in a policy brief.

The policy brief–Covid-19 and Universal Health Coverage–said the pandemic has shown that effective epidemic control benefits economy while exposing the risks of financing health coverage primarily through wage-based contributions. In the context of a global economic crisis where unemployment increases, and where entitlement to services is linked to such contributions, access to health services is reduced at the time people need it the most.

UN Secretary-General António Guterres, while launching the policy brief, called on everyone to draw “hard lessons” from the pandemic, for which the world was not prepared.