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25 million people may lose jobs due to Covid-19 pandemic

Source : 112 Ukraine

The workers all over the world in 2020 may lose from $860 billion up to $3.4 trillion
22:36, 19 March 2020

Open source

The economic and labour crisis caused by the Covid-19 pandemic may increase global unemployment in the amount of 25 million workplaces as the International Labour Organization (ILO) reported.

The ILO noted that unemployment in the world may be lower in case of a coordinated political response at the international level.

Besides, the organization urged to hold prompt measures at three directions: protection of the workers at the workplaces, priming of economy and employment and support of the workplaces and incomes.

Related: Covid-2019: Kyiv region reports another coronavirus case

The organization underlined that these measures include the extension of the social protection, support of the retention in the employment (temporary work, paid leave and other subsidies) as well as financial and tax benefits, including micro, small and medium-sized enterprises.

Moreover, according to the ILO estimation, the workers all over the world in 2020 may lose from $860 billion up to $3.4 trillion.

Earlier, Prime Minister of Ukraine Denys Shmyhal stated that Ukraine stands on ‘the threshold of financial and economic crisis’ as a result of the epidemic of Chinese coronavirus Covid-19 in the world,

 

 

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