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Thursday, 25 April 2024
Wednesday, 27 May 2020 06:00 pm

Americas will bear the brunt of an estimated 305 million job losses by COVID-19 pandemic :ILO

The Americas will bear the brunt of an estimated 305 million job losses that the COVID-19 pandemic will cause worldwide between April and June, the International Labour Organization (ILO) said on Wednesday.

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The outbreak also risks creating a “lockdown generation” of young people forced to play catch-up on the labour market for at least 10 years, the Geneva-based body said.

Its report left its estimate for second quarter job losses - calculated in terms of working hours compared to a pre-pandemic baseline - unchanged from a month ago.

The Americas, meanwhile, had jumped from being the least affected region in labour market terms in the first quarter to being the most affected, with an expected 13.1 percent drop in working hours in the second, ILO Director-General, Guy Ryder, told a briefing.

That was due to it having become the outbreak’s new epicentre.

Ryder said he was “extremely concerned” about young people who are being affected disproportionately by the crisis, saying this might lead to a “lockdown generation”.

“Young people are simply going to be left behind, and in big numbers,” he said.

“...The danger is, that this initial shock to young people will last a decade or longer. It will affect the (employment) trajectory ... throughout their working lives.”

More than one in six working people aged up 24 had lost their jobs since the start of the outbreak, the ILO said.

The organisation also highlighted particular problems in the United States and Brazil.

It was “worrisome” that the U.S. labour market remained “difficult” while other countries easing lockdowns had started to see modest recoveries, said the director of its Employment Policy Department, Sangheon Lee.

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Neha Pandey

Aware of her elements, Neha writes the best articles across industries including electronics & semiconductors, automotive & transportation and food & beverages. Being from the finance background she has the ability to understand the dynamics of every industry and analyze the news updates to form insightful articles. Neha is an energetic person interested in music, travel, and entertainment. Since past 5 years, she written extensively on sectors like technology, finance and healthcare.


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