Coronavirus expected to have cost 400 million jobs in the second quarter worldwide, ILO estimates
The coronavirus pandemic is expected to have resulted in a 14% drop in global working hours in the second quarter of 2020, the International Labour Organization (ILO) has said.
This follows a 5.4% drop in the first quarter.
The United Nations’ labor agency said this updated fall in working hours was the equivalent of 400 million full-time job losses globally in the second quarter, based on a standard 48-hour working week.
In this fifth edition of its “Covid-19 and the world of work” monitor, the ILO said that the Americas were the most affected region, with an estimated 18.3% drop in working hours - or 70 million full-time jobs.
The ILO report also highlighted the disproportionate effect of the pandemic on female workers.
It pointed out that 510 million, or 40%, of all employed women globally work in the four most hard-hit sectors by the coronavirus crisis - compared to 36.6% of men.
At: https://www.cnbc.com/2020/06/30/coronavirus-expected-to-cost-400-million-jobs-in-the-second-quarter.html
Peruvians line up for unemployment benefits recently.
The South American country saw the world's sharpest drop in employment according to the ILO report, with an estimated 80% collapse in hours worked during the second quarter.
