Vanguard News – COVID-19 ‘ll wipe out 195m workforce, ILO laments


*Says accommodation, food services, manufacturing, retail, others at risk

By Victor Young

International Labour Organisation, ILO, has warned that the coronavirus, COVID-19, crisis may wipe out 6.7 percent of working hours, equivalent to 195 million full-time workers, globally in the second quarter of 2020.

The ILO Monitor, 2nd edition, “COVID-19 and the world of work report,” released in Geneva, Switzerland, said: “Large reductions are foreseen in the Arab States (8.1 percent, equivalent to five million full-time workers), Europe (7.8 percent, or 12 million full-time workers) and Asia and the Pacific (7.2 percent, 125 million full-time workers).

Huge losses are expected across different income groups, but especially in upper-middle income countries (7.0 percent, 100 million full-time workers).

This far exceeds the effects of the 2008/2009 financial crisis. The sectors most at risk include accommodation and food services, manufacturing, retail, and business and…

Source: Vanguard Newspaper