AfricaPress-Nigeria:<\/p>\n
The International Labour Organization(ILO) has warned that almost 25 million people could lose their jobs worldwide as a result of Coronavirus pandemic.<\/p>\n
Mr Guy Ryder, ILO Director-General, disclosed this in a statement on Thursday in Abuja after necessary findings.<\/p>\n
He noted that certain groups will be disproportionately affected especially less protected and low-paid jobs which has high population of particularly youth and older workers.<\/p>\n
According to him, the situation is no longer only a global health crisis, but a major labour market and economic crisis that is having a huge impact on people.<\/p>\n
\u201d 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.<\/p>\n
\u201cThe economic and labour crisis created by the COVID-19 pandemic could increase global unemployment by almost 25 million<\/p>\n
\u201cHowever, 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, \u201dhe said.<\/p>\n
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.<\/p>\n
He noted that the three pillars are protecting workers in the workplace, stimulating the economy and employment, and supporting jobs and incomes.<\/p>\n
\u201cThese 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.<\/p>\n
\u201d In addition, the note proposes fiscal and monetary policy measures, and lending and financial support for specific economic sectors,\u201d he added..<\/p>\n
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.<\/p>\n
According to him, there must be swift and co-ordinated policy responses to the issue.<\/p>\n
\u201cThis 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.<\/p>\n
\u201cIn 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.<\/p>\n
\u201cThe 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.<\/p>\n
\u201cIn times of crisis like the current one, we have two key tools that can help mitigate the damage and restore public confidence.<\/p>\n
\u201cFirstly, 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.<\/p>\n
\u201cSecondly, international labour standards provide a tried-and-trusted foundation for policy responses that focus on a recovery that is sustainable and equitable.<\/p>\n
\u201cEverything needs to be done to minimize the damage to people at this difficult time,\u201d Ryder said.(NAN)<\/p>\n","protected":false},"excerpt":{"rendered":"
AfricaPress-Nigeria: The International Labour Organization(ILO) has warned that almost 25 million people could lose their jobs worldwide as a result of Coronavirus pandemic. Mr Guy Ryder, ILO Director-General, disclosed this in a statement on Thursday in Abuja after necessary findings. He noted that certain groups will be disproportionately affected especially less protected and low-paid jobs […]<\/p>\n","protected":false},"author":62,"featured_media":10911,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,1438,15,29],"tags":[1453,219],"class_list":["post-22780","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-coronavirus-in-nigeria","category-economy","category-head-lines","tag-coronavirus-in-nigeria","tag-labour"],"yoast_head":"\n