x

25m people could lose their jobs because of COVID-19 – ILO

Abuja, March 19, 2020 The International Labour Congress(ILO) says almost 25 million jobs could be lost worldwide as a result of COVID-19 pandemic.

Mr Guy Ryder, ILO Director-General, said this in a statement on Thursday in Abuja.

He said the findings was according to a new assessment by the ILO.

” 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 coordinated policy response, as happened in the global financial crisis of 2008 and 2009, then the impact on global unemployment could be significantly lower, ” he said.

He said the preliminary assessment note, COVID-19 and the world of work: Impacts and responses , calls for urgent, large-scale and coordinated measures across three pillars.

He noted that the three pillars are protecting workers in the workplace, stimulating the economy and employment, and supporting jobs and incomes.

“These measures include extending social protection, supporting employment retention such as short-time work, paid leave, other subsidies and financial and tax relief, including for micro, small and medium-sized enterprises.

” In addition, the note proposes fiscal and monetary policy measures, and lending and financial support for specific economic sectors,” he added..

Ryder also said the ILO estimated that between 8.8 and 35 million additional people would be in working poverty worldwide, compared to the original estimate for 2020, which projected a decline of 14 million worldwide.

According to him, there must be swift and coordinated policy responses to the issue.

“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.

“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, ” he said.

He said the ILO note warns that certain groups will be disproportionately affected by the jobs crisis, which could increase inequality.

He added that these include people in less protected and low-paid jobs, particularly youth and older workers. Women and migrants too.

“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 minimise the damage to people at this difficult time,” Ryder said.

Hot this week

DTO Declares for CRUGAA Presidency: “Rebuild the House”

The Crawford University Global Alumni Association (CRUGAA) is preparing...

Nigeria @65: United, prosperous nation possible under Tinubu administration – Amagbein

By Our CorrespondentBetter, united and prosperous Nigeria is possible...

Wike Condoles With Arise News Over Death Of News Anchor, Vows Killers Will Be Apprehended

By Joyce Remi-BabayejuThe FCT Minister, Barr. Nyesom Wike, has...

How l became a consultant inside Kaduna Prison – Journalist Idibia

MY STORYBy Idibia GabrielIt is Interesting but hazardous to...

Kogi Govt to Enforce Ban on Trailer Parks Over Security Concerns

By Noah Ocheni, LokojaThe Kogi State Government has announced...

EFCC Arraigns Company Accountant for Alleged N200m Theft in Lagos

Francis Wilfred‎The Lagos Zonal Directorate 2 of the...

Carnival in Aba as Tinubu commissions reconstructed Port Harcourt Road

By Lucy OmakpoThe commercial city of Aba was transformed...

Minister Nnaji’s Certificate Scandal: CACOL Demands Immediate Sack and Prosecution

***By Jabiru Hassan**The Centre for Anti-Corruption and Open Leadership...

CSO Calls for Abolition of CBN’s 2% Service Charge on Hajj Fare

**By Jabiru Hassan**The Independent Hajj Reporters (IHR), a civil...

Engr. Abba Kabir Yusuf Deserves Royal Treatment

**By Kamaluddeen Sani Shawai**When a leader restores hope and...

Ogwashi-Uku Union Accuses ODA of Attempting to Incite Unrest

*...Says Allegations Against Monarch Baseless***By Anne Azuka**The Ogwashi-Uku Town...

Interfaith Mediation Centre to Host October 2025 Climate Hangout in Kaduna

**By Achadu Gabriel, Kaduna**The Interfaith Mediation Centre (IMC) is...

LAND USE CHARGE: KGIRS Offers Rebates, Urges Property Owners to Pay Voluntarily

**By Noah Ocheni, Lokoja**The Kogi State Internal Revenue Service...

Related Articles

Popular Categories

spot_imgspot_img