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Pandemic does more economic damage than expected, - United Nations

Source : 112 Ukraine

125 million full-fledged jobs were lost this year
22:27, 27 October 2021

Guy Ryder
Open source

The economic damage from the Covid-19 pandemic in the world us stronger than expected, Director General of the International Labor Organization (ILO) Guy Ryder stated, Interfax-Ukraine reports.

In particular, in June, the ILO estimated that compared to the fourth quarter of 2019, before the pandemic, 3.5% of working time will be lost in 2021, which is equivalent to a reduction of 100 million full-fledged jobs. In fact, it is a loss of 4.3% in 2021, and that's the equivalent of 125 million jobs.

"The current trajectory of labour markets is of a stalled recovery, with major downside risks appearing, and a great divergence between developed and developing economies," he said.

At the same time, in high-income countries the situation is better - the loss of 3.6% of working time in the third quarter of 2021. In countries with low incomes - 5.7% of losses, and in countries with incomes below average - 7.3%. The least damage to labor markets had to be suffered by countries in Europe and Central Asia, the greatest - the Arab countries.

Ryder also said that differences in the situation in developed and developing countries are influenced by the availability of Covid-19 vaccines. In particular, according to ILO estimates, at the beginning of October, 59.8% of the population in high-income countries were fully vaccinated, and 1.6% in low-income countries.

As it was reported earlier, WHO President Tedros Ghebreyesus said that with a global death rate of almost 50,000 people a week, the coronavirus pandemic is far from over. He called on countries that have already reached the 40% vaccination target, including the G20, to "give way to vaccine supplies" to the international Covax system and the African Vaccination Fund (Avat), set up by the African Union.

Related: 30% of Ukrainian adults vaccinated against Covid with at least one vaccine dose

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