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COVID-19: 25 million people to lose their jobs

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Following the widespread of Corana virus pandemic across the globe, at least, 25 million people may lose their jobs, the International Labour Organization (ILO) warned.

The Director of ILO, Guy Ryder, in a statement made available to Journalists in Abuja, on Thursday, said the most affected person will be the “less protected and low-paid jobs with high population of particularly youth and older workers.”

“An initial assessment of the impact of COVID-19 on the global world of work says the effects will be far reaching, pushing millions of people into unemployment, underemployment and working poverty, and proposes measures for a decisive, co-ordinated and immediate response.”

“The economic and labour crisis created by the COVID-19 pandemic could increase global unemployment by almost 25 million. However, if we see an internationally co-ordinated policy response, as happened in the global financial crisis of 2008 and 2009, then the impact on global unemployment could be significantly lower, ” he disclosed.

“This is no longer only a global health crisis, it is also a major labour market and economic crisis that is having a huge impact on people. In 2008, the world presented a united front to address the consequences of the global financial crisis, and the worst was averted. We need that kind of leadership and resolve now.”

“The latter are vulnerable due to the lack of social protection and rights, and women tend to be over-represented in low-paid jobs and affected sectors. In times of crisis like the current one, we have two key tools that can help mitigate the damage and restore public confidence.”

“Firstly, social dialogue, engaging with workers and employers and their representatives, is vital for building public trust and support for the measures that we need to overcome this crisis.”

“Secondly, international labour standards provide a tried-and-trusted foundation for policy responses that focus on a recovery that is sustainable and equitable.”

“Everything needs to be done to minimize the damage to people at this difficult time”, his statement read.

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