Breaking News

About 1.6 Billion Workers Are At Risk Of Losing Their Jobs Because Of The Covid-19 Epidemic

The International Labor Organization (ILO) has released the latest data on the impact of the Covid-19 epidemic on the labor market.

According to the ILO report, working hours continue to fall sharply globally due to the outbreak of the Covid-19 pandemic, which will make 1.6 billion workers in the informal sector (nearly half the force) global labor is in danger of losing their livelihoods.

According to the ILO 3 Quick Report: Covid-19 pandemic and the world of work, it is expected that the reduction in working hours in the second quarter of 2020 will be much worse than previously estimated.

Compared to the pre-crisis period in the fourth quarter of 2019, the expected reduction in working hours would be 10.5%, equivalent to 305 million full-time workers (assuming workers work 48 hours a week). While the previous estimate was 6.7% of total hours worked were reduced, equivalent to 195 million full-time workers. The reason for this decline is the continued application of blockade measures in the long run.

ILO data also shows that more than 436 million businesses worldwide face the risk of serious disruption. These enterprises operate in the most severely affected economic sectors, of which 232 million are in wholesale and retail, 111 million are in manufacturing and 51 million are in manufacturing, accommodation and catering businesses, and 42 million businesses in real estate and other businesses.

No comments