Covid-19 pandemic could destroy up to 25 mil jobs globally

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Covid-19 pandemic could destroy up to 25 mil jobs globally
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ILO estimates global unemployment will rise by between 5.3 mil and 24.7 mil. FMTNews Covid19

Tradesmen sit on the side of a road waiting to be hired for work in Mumbai.

“However, if we see an internationally coordinated policy response, as happened in the global financial crisis of 2008/9, then the impact on global unemployment could be significantly lower,” ILO said. Such measures should include extending social protection, supporting employment retention through short-time work or paid leave, as well as financial and tax relief, including for micro, small and medium-sized enterprises, ILO added.

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