ILO estimates pandemic will affect 195 million jobs
The agency warns that Europe will suffer a loss of 7.8 % in working hours
The International Labor Organization published in a report last Tuesday that the global labor market will be strongly affected, to the point of suffering a loss of 6.7% of working hours in the second quarter of 2020, which is equivalent to 195 million full-time workers.
According to the report, Europe will be the second most affected continent that will register a loss of 7.8 % of working hours, which is equivalent to about 12 million workers, with the Arab States in first place and where the losses are estimated to be 8.1 %, equivalent to 5 million full-time workers.
The same will happen in Asia and the Pacific, where they are expected to lose 7.2 % of the hours, 125 million full-time workers. These huge losses will affect different income groups, in particular upper middle income countries where the full time workers is a maximum of 7 %.
According to studies carried out by the organization, the sectors most exposed to risk are the hosteling and restaurant industry, the manufacturing industry, retail trade, and business and administrative activities.
The initial forecast during 2020 is estimated to be 25 million unemployed. However, this will depend on future developments and the policies adopted by each government, leaving the possibility that the figures exceed the estimate.
K.Villarroel
Source: elcomercio
