THE COVID-19 pandemic will push millions more into unemployment, underemployment and working poverty, the United Nations warned on Wednesday, warning that workers globally stood to lose up to $3.4 trillion in income this year alone.
“Falls in employment... mean large income losses for workers,” the International Labour Organization said, releasing a report showing workers stand to lose between $860 billion and $3.4 trillion by the end of 2020.
The number of global coronavirus infections shot past 2,00,000 on Wednesday, as governments across Europe, North America and Asia rolled out tough measures to put the brakes on the ferocious spread of the deadly pandemic.
The ILO warned that the economic and labour crisis sparked by the spread of the virus, which has now killed more than 8,000 people worldwide, will have “far-reaching impacts on labour market outcomes”.
This story is from the March 19, 2020 edition of The Morning Standard.
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This story is from the March 19, 2020 edition of The Morning Standard.
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