the fact that
women
, different
socio-demographic groups
and
cultural communities
, especially ethnic and racial minorities, are disproportionately impacted by the virus presents one more barrier to their full participation in the economy. for women in particular, as they shoulder the majority of caretaking and household management, the impact extends to unpaid (and sometimes unrecognized) work.
we are also learning that long covid does not just strike adults. while
estimates
of the incidence of long covid in children have varied considerably, according to preliminary results from a
study
out of the u.k., up to 14 per cent still had symptoms 15 weeks following a positive covid diagnosis. as a consequence, parents and guardians of affected children
have become caregivers
and this may impact their ability to work full time.
at the start of the pandemic, we could not have imagined that a virus — not another financial crisis — would have such wide-ranging effects on the global economy. as i write this, a fourth wave
has gained
momentum. whatever calculations we have made to date of the economic cost of covid-19 are therefore too low.
nonetheless, there have been some staggering estimates thus far, varying from us$10 trillion to more than
us$16 trillion
. this is multiples of the economic impact of the great recession. and while almost all countries in the world experienced negative growth, this was most marked in the
poorest countries
. the costs will likely be higher as these figures do not include the financial impact caused by long covid; according to the
journal of the american medical association
, “because there are approximately seven times as many survivors from severe or critical covid-19 disease as there are covid-19 deaths, long-term impairment might affect more than twice as many people as the number of people who die.”