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Report

25 million jobs could be lost worldwide as result of COVID-19, estimates ILO

"Almost 25 million jobs could be lost worldwide as a result of COVID-19, says ILO", 18 March 2020

The economic and labour crisis created by the COVID-19 pandemic could increase global unemployment by almost 25 million, according to a new assessment by the International Labour Organization (ILO)...

The preliminary assessment... COVID-19 and the world of work: Impacts and responses, calls for urgent, large-scale and coordinated measures across three pillars: protecting workers in the workplace, stimulating the economy and employment, and supporting jobs and incomes.

These measures include extending social protection, supporting employment retention... and financial and tax relief...

Underemployment is also expected to increase on a large scale, as the economic consequences of the virus outbreak translate into reductions in working hours and wages. Self-employment in developing countries, which often serves to cushion the impact of changes, may not do so this time because of restrictions on the movement of people... and goods.

Falls in employment also mean large income losses for workers... Working poverty is expected to increase significantly too...

The ILO note warns that certain groups will be disproportionately affected by the jobs crisis... These include people in less protected and low-paid jobs, particularly youth and older workers. Women and migrants too. The latter are vulnerable due to the lack of social protection and rights...