Almost 50% Of The World Workforce Could Be Unemployed!
As shocking as it may sound, the news is that because of the global havoc caused by the Coronavirus pandemic, as many as 50% of the world workforce, could end up having no source of income. This is as per the latest data that has been revealed by the International Labour Organization (ILO).
As a result in the decrease in the number of working hours of people all over the world, because of the Coronavirus disease, around 1.6 billion workers face the danger of having their source of income wiped out. Such has been the warning that has been given by the ILO.
1.6 billion workers is the equivalent of almost 50% of the world workforce.
Guy Ryder, ILO Director-General said:
“For millions of workers, no income means no food, no security and no future. As the pandemic and the jobs crisis evolve, the need to protect the most vulnerable becomes even more urgent. For millions of workers, no income means no food, no security and no future. Millions of businesses around the world are barely breathing. They have no savings or access to credit. These are the real faces of the world of work. If we don’t help them now, these enterprises will simply perish.”
Guy Ryder also stated:
“This is no longer only a global health crisis, it is also a major labour market and economic crisis that is having a huge impact on people.”
According to the ILO, the Americas will be hit the most by COVID-19 and they could see job losses amounting to around 305 million.
The ILO Director-General further stated:
“Young people are simply going to be left behind, and in big numbers. …The danger is, that this initial shock to young people will last a decade or longer. It will affect the (employment) trajectory … throughout their working lives.”
The world will be in a sorry state, it goes without saying, if 50% of the world workforce will be unemployed!