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VideoMay 4, 2021

World Bank Enterprise Surveys: More than a Number - 14%

Since the end of 2019, firms on average, have reduced their workforce by 14%, according to the the latest rounds of the World Bank's COVID-19 follow-up Enterprise Surveys in 36 countries. In 22 countries surveyed in Europe and Central Asia (ECA), the average firm has lost 9 percent of its workforce. By contrast, for 6 countries surveyed in Sub-Saharan Africa (AFR) this decline is over 22 percent. In all the countries surveyed, among those firms not at their normal workforce levels, the average firm reports it will take 7 months to return to their regular level. Understanding the details and experiences of these businesses through COVID-19 can help develop the policies for private sector recovery.