Corona virus to render 2.7 billion workers jobless?

ilo

The International Labour Organisation said that the coronavirus pandemic will affect about 2.7 billion workers in the world. Moreover, the world organisation pointed out that 6.7 per cent of working hours would be wiped out globally in the second quarter of 2020, which meant it will affect 195 million full time workers.

In its latest report, the ILO said that Arab States will see a larger reduction. It will see 8.1 per cent reduction which is equivalent to five million full-time workers. The report said Europe will see 7.8 per cent reduction, which means 12 million full-time workers will be affected.  In Asia and the Pacific, the report states that 7.2 per cent reduction will take place, which came to 125 million full-time workers.

The ILO said that huge losses were expected across various income groups. Upper-middle income countries would be the worst hit, the report said. Manufacturing, food services, accommodation services, retail, and administrative activities are going to be the worst hit sectors.

The report also said that the rise in unemployment ration will depend on the substantially on future developments and policy measures.

Meanwhile ILO Director General Guy Ryder said that  workers and businesses were facing a catastrophe in developed as well as developing economies. Guy Ryder said that this was the greatest test for international cooperation in more than 75 years. “If one country failed, then we all fail. We must find solutions that help all segments of our global society, particularly those that are most vulnerable or least able to help themselves,” Ryder said.

Noting that integrated policy measures are needed for tackling the situation, the ILO report has called for focussing on four pillars: supporting enterprises, stimulating the economy and jobs; employment and incomes; protecting workers in the workplace; and using social dialogue between government, workers and employers to find solutions.

LEAVE A REPLY

Please enter your comment!
Please enter your name here