ILO estimates 300m jobs could be lost due to virus
May 5, 2020 - Global working hours in the second quarter of 2020 are expected to be 10.5 percent lower than before the coronavirus crisis started – equivalent to more than 300 million full-time jobs, according to the International Labour Organization (ILO).
The ILO described the figure as “significantly worse” than its previous estimate of a 6.7 percent drop in working hours around the world, equivalent to 195 million full-time jobs, assuming a 48-hour working week. This has been driven mainly by the prolongation and extension of lockdown measures, the ILO said.
The ILO also projects that 1.6 billion workers in the “informal economy,” including those working beyond the reach of government regulation, “stand in immediate danger of having their livelihoods destroyed.” That is nearly half the global workforce of 3.3 billion people.
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