How Coronavirus Disease Has Affected Jobs Globally

How Coronavirus Disease Has Affected Jobs Globally

How Coronavirus disease has affected jobs globally!

The Coronavirus pandemic has taken its toll on 4 out of 5 jobs, all across the planet. From a global workforce of 3.3 billion people, a total of 81% of these people, have had their

workplace either partly or fully shut down.

Due to the Coronavirus disease, there have been a lot of restrictions on day to day living and this has led to many companies either shutting shop or laying off their staff – temporarily or permanently.

Guy Ryder, Director General of the International Labour Organization (ILO), an agency of the United Nations, says:

“Workers and businesses are facing catastrophe, in both developed and developing economies. We have to move fast, decisively, and together. The right, urgent, measures, could make the difference between survival and collapse.”

It has been predicted that as a result of the Coronavirus disease, almost 200 million people could be out of work, all over the globe. It is expected that the Novel Coronavirus outbreak could obliterate as much as 6.7% working hours, across the planet, in the 2nd quarter of 2020.

Translated, this meant that this was equal to 195 million full-time workers having lost their jobs, due to New Coronavirus.

According to the ILO, this was:

“the most severe crisis” since World War Two.

ILO has also stated that there could be an increase in unemployment all over the world, in the year 2020 and this would be based on primarily two factors which are:

  • How policy measures would be able to effectively increase the labor demand.
  • In the 2nd half of 2020, how fast would the global economy be able to make a recovery.

Also, there is a huge risk that the global unemployment figure for the end of 2020, would be much higher than the 25 million people, which has been projected by ILO.

Guy Ryder added:

“This is the greatest test for international co-operation in more than 75 years. If one country fails, 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.”

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