First Business News Portal in English from Nepal
KATHMANDU: A government study has shown that 1.6 million Nepalis (inside Nepal and abroad) have lost their jobs since the outbreak of the COVID-19 pandemic.
A study report prepared by the National Planning Commission (NPC) on the impact of the pandemic on economy estimates that 640,000 Nepalis abroad, including in India, have lost their jobs so far. Similarly, about 920,000 people working in the formal and informal sectors have lost their jobs inside the country.
As per the NPC report, people working in formal sector including government employees and banks and financial institution workers have been getting regular salaries and the pandemic has not affected workers in the formal sector much. However, workers in informal sector has been affected severely.
It is estimated that about one million unemployed people have returned to their villages from the city following the pandemic. This has increased self-employment rate in villages and activities in other informal sectors have increased in the rural areas.
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