In: Economics
With COVID-19 what are some thoughts and economic impacts of the lower socioeconomic communities geting hit hard by? Why has the contamination of individuals forced the building of smaller communities?
The communities with lower socioeconomic status are the worst affected from the pandemic. This is because
They belong to the section of Society where a majority of people have informal jobs. This implies that the job losses would be maximum in this case.
Also when jobs are temperory, there is low income and hence less savings. So in times like these, when there are no jobs and people are solely dependent on their savings, these people are severely affected.
The third reason is that most of them lack insurance of any form. So when they get sick or are affected by diseases, their out of pocket expenditure is also higher than the rest of the society.
They live in small, closed areas with tiny, temperory built rooms. Common washrooms, lack of proper health and sanitation also increase their vulnerability to diseases.
Hence they are worst effected from pandemic covid-19.
Because of the contamination, people are preferring smaller communities. This is because the disease is spread by human touch and when people live in small areas that are overcrowded, they are getting in contact with more and more humans. So the probability of catching disease would increase.
In smaller communities, people are able to maintain distance, the chances of contamination also reduces and hence they are able to reduce the spread of the disease.
(You can comment for doubts)