The coronavirus pandemic has worsened long-standing inequalities around the world, which left unaddressed could undermine economic stability and lead to unrest, the IMF warned on Thursday.

Poorest families have been hit particularly hard, and the damage to education could last for years, the International Monetary Fund said in a report released ahead of next week's Spring meetings.

The findings show that the warnings fund economists sounded last year have come to pass.

"Covid-19 has exposed and exacerbated preexisting inequalities in incomes and access to basic public services, such as health care and vaccination, both within and across countries," the report said.

"Disruptions to education threaten social mobility by leaving long-lasting effects on children and youth, especially those from poorer households."

Increasing reliance on digital work and schooling worsen the impact, making it harder for low-skilled workers to find jobs.

"Against this backdrop, societies may experience rising polarization, erosion of trust in government, or social unrest," the IMF said.&nbsp;

The report — released a day after US President Joe Biden proposed raising corporate taxes to pay for a massive infrastructure and jobs program — called for raising some taxes and improving tax collection to provide revenue for an improved social safety net.&nbsp;

Authors David Amaglobeli, Vitor Gaspar, and Paolo Mauro in a blog post called for governments to "give everyone a fair shot at prosperity," by improving access to health care, vaccinations, education and good jobs.

They suggested countries could rely more on property and inheritance taxes, increase the tax rate for the wealthiest earners, and eliminate loopholes as well as "modernizing corporate income taxation."&nbsp;

Governments also could consider "temporary Covid-19 recovery contributions" for high-income households, they said.

Using these funds for key social programs can have "a powerful effect" at a time when "up to six million children in emerging market and developing economies could drop out of school in 2021, with lifelong adverse consequences."

"If governments increased spending on education by one percent of GDP, for example, they could reduce the gap in enrollment rates between the richest and the poorest families by almost one-third," the authors said.

The coronavirus pandemic has worsened long-standing inequalities around the world, which left unaddressed could undermine economic stability and lead to unrest, the IMF warned on Thursday.

The coronavirus pandemic has worsened long-standing inequalities around the world, which left unaddressed could undermine economic stability and lead to unrest, the IMF warned on Thursday. Poorest families have been hit particularly hard, and the damage to education could last for years, the International Monetary Fund said in a report released ahead of next week's Spring meetings. The findings show that the warnings fund economists sounded last year have come to pass. "Covid-19 has exposed and exacerbated preexisting inequalities in incomes and access to basic public services, such as health care and vaccination, both within and across countries," the report said. "Disruptions to education threaten social mobility by leaving long-lasting effects on children and youth, especially those from poorer households." Increasing reliance on digital work and schooling worsen the impact, making it harder for low-skilled workers to find jobs. "Against this backdrop, societies may experience rising polarization, erosion of trust in government, or social unrest," the IMF said. The report — released a day after US President Joe Biden proposed raising corporate taxes to pay for a massive infrastructure and jobs program — called for raising some taxes and improving tax collection to provide revenue for an improved social safety net. Authors David Amaglobeli, Vitor Gaspar, and Paolo Mauro in a blog post called for governments to "give everyone a fair shot at prosperity," by improving access to health care, vaccinations, education and good jobs. They suggested countries could rely more on property and inheritance taxes, increase the tax rate for the wealthiest earners, and eliminate loopholes as well as "modernizing corporate income taxation." Governments also could consider "temporary Covid-19 recovery contributions" for high-income households, they said. Using these funds for key social programs can have "a powerful effect" at a time when "up to six million children in emerging market and developing economies could drop out of school in 2021, with lifelong adverse consequences." "If governments increased spending on education by one percent of GDP, for example, they could reduce the gap in enrollment rates between the richest and the poorest families by almost one-third," the authors said.

Spend more, tax wealthy: IMF warns pandemic could worsen inequality, fuel social unrest

Repeated lockdowns, socially distanced lives, masks on the face, and a general phobia of catching the deadly <a href="https://www.wionews.com/topics/coronavirus">coronavirus</a> from anyone and everyone — there are several aspects of this pandemic that has brought humongous changes in our lives, and many believe that these changes have brought greater social inequality.

A recent study by the UK government's independent advisers has revealed that over half of the public believes that coronavirus has brought increased social injustice.

Also read |&nbsp;<a href="https://www.wionews.com/world/more-contagious-variant-is-spreading-fast-in-us-even-as-overall-cases-level-off-369658" hreflang="en">More contagious variant is spreading fast in US, even as overall cases level off</a>

The Social Mobility Commission has claimed that an annual survey of public attitudes has revealed that 56 per cent of adults believe that social inequality has increased during the pandemic. While 16 per cent of adults are still unsure about the pandemic's effect on social inequality, a quarter feel there hasn't been any increase.

This survey has also highlighted the point that several organisations have been talking about for the past few months, claiming the socially disadvantaged have been the hardest hit by the pandemic.

Also read |&nbsp;<a href="https://www.wionews.com/world/black-and-hispanic-communities-grapple-with-vaccine-misinformation-369476" hreflang="en">Black and Hispanic communities grapple with vaccine misinformation</a>

"Now without urgent, targeted action, social mobility looks set to go backwards and the attainment gap between the wealthy and disadvantaged will grow ever wider," the report mentioned.

Coronavirus pandemic has resulted in job losses and an alarming decline in living standards, staggering access to health facilities and limited access to online schooling.

"This poll dramatically underlines public concern about growing social inequality. Government, employers and educators should listen and act. The most disadvantaged – at home, school or work – should now be put centre stage in any recovery plan," Steven Cooper, interim co-chair of the commission said.

Also read |&nbsp;<a href="https://www.wionews.com/world/vitamin-d-supplements-cannot-protect-against-coronavirus-study-369411" hreflang="en">Vitamin D supplements cannot protect against coronavirus: Study</a>

The results have been calculated from a database of 4,693 adults who were surveyed between January 27 and February 01.

Since the pandemic hit and the survey outlined the underlying problem, the government has decided to step in and fill the gaps. "This government is committed to levelling up outcomes for every individual, across the country. Supporting people’s mental wellbeing is a priority, which is why we are providing an additional £500m for mental health services and £79m to expand mental health support teams in schools and colleges," a government spokesperson said.

"On top of that, our multi-billion pound plan for jobs aims to protect, support and create jobs across the country and offers targeted support to help jobseekers of all ages back into work," the spokesperson added. "We are also providing £1.7bn to help children and young people with education recovery after time out of the classroom."

Repeated lockdowns, socially distanced lives, masks on the face, and a general phobia of catching the deadly coronavirus from anyone and everyone — there are several aspects of this pandemic that has brought humongous changes in our lives, and many believe that these changes have brought greater social inequality.

Repeated lockdowns, socially distanced lives, masks on the face, and a general phobia of catching the deadly coronavirus from anyone and everyone — there are several aspects of this pandemic that has brought humongous changes in our lives, and many believe that these changes have brought greater social inequality. A recent study by the UK government's independent advisers has revealed that over half of the public believes that coronavirus has brought increased social injustice. Also read | More contagious variant is spreading fast in US, even as overall cases level off The Social Mobility Commission has claimed that an annual survey of public attitudes has revealed that 56 per cent of adults believe that social inequality has increased during the pandemic. While 16 per cent of adults are still unsure about the pandemic's effect on social inequality, a quarter feel there hasn't been any increase. This survey has also highlighted the point that several organisations have been talking about for the past few months, claiming the socially disadvantaged have been the hardest hit by the pandemic. Also read | Black and Hispanic communities grapple with vaccine misinformation "Now without urgent, targeted action, social mobility looks set to go backwards and the attainment gap between the wealthy and disadvantaged will grow ever wider," the report mentioned. Coronavirus pandemic has resulted in job losses and an alarming decline in living standards, staggering access to health facilities and limited access to online schooling. "This poll dramatically underlines public concern about growing social inequality. Government, employers and educators should listen and act. The most disadvantaged – at home, school or work – should now be put centre stage in any recovery plan," Steven Cooper, interim co-chair of the commission said. Also read | Vitamin D supplements cannot protect against coronavirus: Study The results have been calculated from a database of 4,693 adults who were surveyed between January 27 and February 01. Since the pandemic hit and the survey outlined the underlying problem, the government has decided to step in and fill the gaps. "This government is committed to levelling up outcomes for every individual, across the country. Supporting people’s mental wellbeing is a priority, which is why we are providing an additional £500m for mental health services and £79m to expand mental health support teams in schools and colleges," a government spokesperson said. "On top of that, our multi-billion pound plan for jobs aims to protect, support and create jobs across the country and offers targeted support to help jobseekers of all ages back into work," the spokesperson added. "We are also providing £1.7bn to help children and young people with education recovery after time out of the classroom."

Coronavirus has increased social inequality in UK: Survey

Robots are expected to take over some 20 million manufacturing jobs worldwide by 2030, extending a trend of worsening social inequality while boosting overall economic output, a new study shows.

The forecast set to be released Wednesday highlights growing concerns that automation and robots, while offering economic benefits, are disproportionately killing low-skill jobs and aggravating social and economic stress.

The study by Oxford Economics, private British-based research and consulting firm, said job displacement from the rise of robots will not be evenly spread around the world, or within countries.

Robots have already taken over millions of manufacturing jobs and are now gaining in services, helped by advances in computer vision, speech recognition and machine learning, the study noted.

In lower-skilled regions, job losses will be twice as high as those in higher-skilled regions, even in the same country, the study concluded.

The research comes amid intense debate on the rise of technologies such as self-driving cars and trucks, robotic food preparation and automated factory and warehouse operations and their impact on employment.

Many analysts point out that automation has generally led to more job creation than it destroys, but that in recent years the trend has created a skills gap that leaves out many workers.

According to the latest study, the current wave of "robotisation" is likely ultimately to boost productivity and economic growth, generating roughly as many new jobs as it destroys.

At the high end of the forecast, the researchers see a $5 trillion "robotics dividend" for the global economy by 2030 from higher productivity.

"We found that jobs, where repetitive functions are required, are most affected, with those such as warehouse work at imminent risk," the authors wrote.

"Jobs in less structured environments and which demand compassion, creativity or social intelligence are likely to be carried out by humans for decades to come."

It added that "robots will increasingly play in sectors including retail, healthcare, hospitality, and transport as well as construction and farming."

The impact will be uneven depending on the country and regions within each country, the study said.

"Automation will continue to drive regional polarization in many advanced economies -- and this trend will intensify as automation spreads to services," the authors wrote.

But they cautioned against policymakers acting to slow the adoption of robotic technology.

"Instead the focus should be to use the robotics dividend to help those in vulnerable regions ready themselves for the major upheaval ahead," they wrote.&nbsp;

"Preparing for and responding to the social impacts of automation will be the defining challenge of the next decade." 
&nbsp;

Robots are expected to take over some 20 million manufacturing jobs worldwide by 2030, extending a trend of worsening social inequality while boosting overall economic output, a new study shows.

Robots are expected to take over some 20 million manufacturing jobs worldwide by 2030, extending a trend of worsening social inequality while boosting overall economic output, a new study shows. The forecast set to be released Wednesday highlights growing concerns that automation and robots, while offering economic benefits, are disproportionately killing low-skill jobs and aggravating social and economic stress. The study by Oxford Economics, private British-based research and consulting firm, said job displacement from the rise of robots will not be evenly spread around the world, or within countries. Robots have already taken over millions of manufacturing jobs and are now gaining in services, helped by advances in computer vision, speech recognition and machine learning, the study noted. In lower-skilled regions, job losses will be twice as high as those in higher-skilled regions, even in the same country, the study concluded. The research comes amid intense debate on the rise of technologies such as self-driving cars and trucks, robotic food preparation and automated factory and warehouse operations and their impact on employment. Many analysts point out that automation has generally led to more job creation than it destroys, but that in recent years the trend has created a skills gap that leaves out many workers. According to the latest study, the current wave of "robotisation" is likely ultimately to boost productivity and economic growth, generating roughly as many new jobs as it destroys. At the high end of the forecast, the researchers see a $5 trillion "robotics dividend" for the global economy by 2030 from higher productivity. "We found that jobs, where repetitive functions are required, are most affected, with those such as warehouse work at imminent risk," the authors wrote. "Jobs in less structured environments and which demand compassion, creativity or social intelligence are likely to be carried out by humans for decades to come." It added that "robots will increasingly play in sectors including retail, healthcare, hospitality, and transport as well as construction and farming." The impact will be uneven depending on the country and regions within each country, the study said. "Automation will continue to drive regional polarization in many advanced economies -- and this trend will intensify as automation spreads to services," the authors wrote. But they cautioned against policymakers acting to slow the adoption of robotic technology. "Instead the focus should be to use the robotics dividend to help those in vulnerable regions ready themselves for the major upheaval ahead," they wrote. "Preparing for and responding to the social impacts of automation will be the defining challenge of the next decade."

Robots to take 20 million jobs, worsening inequality: Study

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