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Four times as many jobs were lost last year due to the coronavirus pandemic than during the worst part of the global financial crisis in 2009, a UN report said on Monday.
The International Labor Organization estimated that restrictions on business and public life destroyed 8.8% of all working hours in the world last year. This amounts to 255 million full-time jobs – which has quadrupled the impact of the financial crisis for more than a decade.
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“This has been the most severe crisis for the world of work since the Great Depression of the 1930s. Its impact is far greater than that of the 2009 global financial crisis,” said ILO Director-General Guy Ryder. The consequences were almost equally divided between the reduction in working hours and “unprecedented” job losses, he said.
People wearing protective masks to help stem the spread of the coronavirus walk along pedestrian crossings on January 25, 2021 in Tokyo. (AP Photo / Eugene Hoshiko)
The United Nations agency noted that most people who lost their jobs stopped looking for jobs, probably because of restrictions on companies that hire large numbers, such as restaurants, bars, shops, hotels and other services that depend on face-to-face interactions. face.
The drop in work translates into a loss of $ 3.7 trillion in global income – what Ryder called an “extraordinary figure” – with women and young people being the biggest hits.
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The ILO report expects a recovery in employment in the second half of the year. But that depends on a reduction in coronavirus infections and the launch of vaccines. Currently, infections are increasing or remain stubbornly high in many countries, and vaccine distribution is still slow overall.