Monday, February 26

195 Million Jobs Lost Worldwide Due to Corona Crisis

The pandemic with the new coronavirus will cause 195 million job losses worldwide in the second quarter.

 

The virus outbreak is causing a sharp fall in the number of jobs, especially in Europe, Asia and the Arab world, the International Labor Organization (ILO) expects.

The loss of tens of millions of jobs results from an expected 6.7 percent decline in all full-time jobs from April through June.

The blow is particularly severe in countries where wages fall in the higher middle-income segment. Many more jobs will disappear here than during the 2008 financial crisis, the UN organization warns.

At the same time, the global crisis, according to ILO, the worst since World War II, threatens to hit hard workers in countries with lower wages.

It is precisely in the affected sectors such as tourism and catering that many people work on an informal basis. If they are put aside by clients, they have no social safety net. Medical care is also more challenging to obtain for this group.

According to ILO, how many people lose their work or income in the whole of 2020 depends strongly on the duration of the pandemic and measures taken against it.

The organization points out that 2.7 billion workers experience full or partial lockdown, equivalent to 81 percent of the global workforce. Of these, 1.25 billion people work in sectors where there is a high risk of loss of income and layoffs from the coronavirus.

According to the ILO, governments must quickly come up with support measures that protect the jobs and livelihoods of workers. Particular attention should be paid to developing countries and the most severely affected sectors.

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