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ILO: More than 250 million jobs are lost in the world by 2020

Workers outside the New York City Department of Labor Office (USA). Documentary photo: THX / TTXVN

Specifically, in the latest study, the ILO shows that the total number of hours worked worldwide has decreased by 8.8% in 2020, compared with the fourth quarter of 2019 alone. This means that by 2020, the world will lose 255 million full-time jobs, nearly four times the number of jobs that were lost during the global economic crisis of 2009. The ILO said with the length of the workforce. In such a decline, global labor income also decreased by 8.3%, equivalent to about 3,700 billion USD, or 4.4% of global GDP.

The ILO explains that about half of the above cut-off hours are the shortened working hours of workers who keep a job. However, in 2020, the number of jobless people will increase ever high. The global unemployment rate increased by 1.1% (an additional 33 million people lost their jobs) to a total of 220 million people and the global unemployed rate was 6.5%.

According to ILO Director General Guy Ryder, this is the most severe crisis that the global job market has experienced since the Great Depression of the 1930s. registered as unemployed but was excluded from the labor market. Among these were those who were unable to work because of restrictions to prevent the spread of the disease, or because of social obligations or they no longer wanted to find work. This can lead to consequences such as the loss of skills, talents and energy for workers, and damage to families and society as a whole.

The ILO points to the disproportionate impact of the epidemic on workers around the world, and especially on young women and workers. Globally, the unemployment rate for women in 2020 will be 5% while for men it will be 3.9%. Women are more likely to work in economic sectors that are more impacted and also take on more jobs during a pandemic, such as taking care of children who had to stay home from school. Younger workers are also at a much higher risk of losing their jobs. Globally, the unemployment rate among workers aged 15-24 was 8.7%, significantly higher than the rate of 3.7% among the group of older workers. Many young people are also afraid of entering the labor market in the context of a volatile market. The ILO considers this to be a “practical” risk of a “disoriented” generation due to the effects of the COVID-19 pandemic.

The new ILO report also pointed out that the pandemic was disproportionately impacting various sectors, with accommodation and catering services being the strongest impact, with employment rates falling by 20%. In contrast, jobs in information technology and communications, finance and insurance increased.

While there are already proven safe and effective vaccines that raise hope that the world will soon be able to contain the pandemic, the ILO warns the prospect of a recovery in the global labor market in 2021 “low, unstable and uneven”. The ILO calls on countries to provide special support to the groups and sectors most severely affected and to those that can create multiple jobs quickly. The ILO emphasized the need to support poorer countries with fewer resources to promote job market recovery. The report outlines three recovery scenarios for 2020, depending on support measures at the national and international level. In the negative scenario, the working time in 2021 will decrease by 4.6% and even in the most positive scenario, the working time will decrease by 1.3% in 2021, equivalent to about 36 million jobs will be lost.

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