x

Coronavirus

COVID-19 Pummels Global Economy, Jobs – even without 2nd Wave

PARIS – The virus crisis has triggered the worst global recession in nearly a century — and the pain is not over yet even if there is no second wave of infections, an international economic report warned Wednesday.

Hundreds of millions of people have lost their jobs, and the crisis is hitting the poor and young people the hardest, worsening inequalities, Organization for Economic Cooperation and Development said in its latest analysis of global economic data.

“It is probably the most uncertain and dramatic outlook since the creation of the OECD,” Secretary General Angel Gurria said. “We cannot make projections as as we normally do.”

In the best-case scenario, if there is no second wave of infections, the agency forecast a global drop in economic output of 6% this year, and a rise of 2.8% next year.

If the coronavirus re-emerges later in the year, however, the global economy could shrink 7.6%, the OECD said.

RELATED

ATHENS – While the New Democracy government is easing health restrictions for rabid anti-vaxxers, those fully vaccinated against COVID-19 may need a fourth shot in the autumn.

Top Stories

Columnists

A pregnant woman was driving in the HOV lane near Dallas.

General News

FALMOUTH, MA – The police in Falmouth have identified the victim in an accident involving a car plunging into the ocean on February 20, NBC10 Boston reported.

General News

NEW YORK – Meropi Kyriacou, the new Principal of The Cathedral School in Manhattan, was honored as The National Herald’s Educator of the Year.

Video

From Yale to Jail: Oath Keepers Founder Stewart Rhodes’ Path

PHOENIX — Long before he assembled one of the largest far-right anti-government militia groups in U.

Enter your email address to subscribe

Provide your email address to subscribe. For e.g. abc@xyz.com

You may unsubscribe at any time using the link in our newsletter.