Covid-19 impact: 195 mn full-time workers may lose jobs globally, says ILO

Huge losses are expected across different income groups, especially in upper-middle income countries (7 per cent, 100 million full-time workers), said the ILO.

The coronavirus pandemic is expected to erase 6.7 per cent of working hours globally during July-December, 2020 - equivalent to 195 million full-time workers, which far exceeds the effects of the 2008-09 financial crisis, the International Labour Organization (ILO) warned on Tuesday.

Large reductions are foreseen in the Arab states (8.1 per cent, equivalent to 5 million full-time workers), Europe (7.8 per cent, or 12 million full-time workers) and Asia and the Pacific (7.2 per cent, 125 million full-time workers).

Huge losses are expected across different income groups, especially in upper-middle income countries (7 per cent, 100 million full-time workers), said the ILO.

"Workers and businesses are facing catastrophe, in both developed and developing economies. We have to move fast, decisively, and together. The right and urgent measures could make the difference between survival and collapse," Guy Ryder, ILO's Director-General, said in a statement.

ALSO READ: Around 80,000 jobs expected to be cut due to coronavirus lockdown: Report

The sectors most at risk include accommodation and food services, manufacturing, retail, and business and administrative activities.

The eventual increase in global unemployment during 2020 will depend substantially on future developments and policy measures.

"There is a high risk that the end-of-year figure will be significantly higher than the initial ILO projection, of 25 million," said the ILO report titled "LLO Monitor 2nd edition: COVID-19 and the world of work".

Govt's silence dangerous: Priyanka on reports of threat to 1 mn auto jobs

Priyanka Gandhi tagged the media report on Twitter which said auto parts industry is fearing that 1 million jobs could be at stake due to the slowdown.

Congress general secretary Priyanka Gandhi Vadra on Friday cited a media report to claim that jobs of one million people in the automobile sector were in danger and asserted that the BJP government's silence on job losses was "most dangerous".

Her remarks came after industry body ACMA on Wednesday said around 1 million jobs could be on the line if the prolonged slowdown in the automobile industry continues.

Priyanka Gandhi tagged the media report on Twitter which said auto parts industry is fearing that 1 million jobs could be at stake due to the slowdown.

ALSO READ: Auto parts industry fears 1 million jobs could be at stake due to slowdown

"Jobs of 10 lakh people working in the auto sector are in danger. People working in this sector will have to search for new job avenues," she said.

"The silence of the BJP government on job losses, weakening trade and policies damaging the economy is most dangerous," Priyanka Gandhi claimed.

The Automotive Component Manufacturers Association of India (ACMA), which represents the auto component industry that alone employs around 5 million people, has sought a uniform GST of 18 per cent for the entire automobile sector in order to revive the vertical which has now witnessed 10 months of continuous decline in sales.

ACMA president Ram Venkataraman had said considering the fact that the auto component industry grows on the back of the vehicle industry, a current 15-20 per cent cut in vehicle production has led to a crisis-like situation.

"If the trend continues, the layoffs are inevitable and an an estimated 1 million people could be laid off," he said.

Business Standard

Over 180 mn jobs for women at high risk of being displaced globally: IMF

Jobs are likely to grow in traditionally female-dominated sectors.

As many as 180 million jobs for women are at high risk of being displaced globally due to new technologies like automation, the IMF warned Tuesday.

The global financial institution urged the world leadership to endow women with requisite skills, close gender gap in leadership positions, bridge the digital divide and ease transition for workers.

In a note released during the annual International Monetary Fund (IMF) and the World Bank meetings in Bali, the world body said that the figures of massive potential job loss for women is based on its estimate of 30 countries, which includes 28 Organisation for Economic Cooperation and Development (OECD) countries and Cyprus and Singapore.

It also rued that the new technologies could further drive down demand and reduce relative wages for the routine tasks that women perform, lowering returns from labour market participation.

ALSO READ: Jobs: Universal basic problem

The IMF said its results indicate that, given the current state of technology, 10 per cent of the male and female workforce (54 million workers) in 30 countries (28 OECD member countries, Cyprus, and Singapore) is at a high risk (facing higher than 70 per cent likelihood of being automated) of being displaced by technology within the next two decades.

A larger proportion of the female workforce is at high risk for automation than the male workforce (11 per cent versus 9 per cent), with 26 million female jobs potentially at stake in these countries.

Less well-educated and older female workers (aged 40 and older), and those in clerical, service, and sales positions are disproportionately exposed to automation.

"Extrapolating our results, we find that 180 million female jobs are at high risk of being displaced by automation globally," the IMF said. (Business Standard )

In its discussion note, the IMF rued that women are under-represented in sectors anticipating jobs growth, where technological changes can be complementary to human skills.

As such it called for endowing women with the requisite skills, closing the gender gap in leadership positions, bridging the digital divide and easing transition for workers.

Women, it said, appear less endowed with some of the skills needed to thrive in the digital era: they are currently under-represented in sectors anticipating jobs growth, such as engineering and Information and Communications Technology. At the same time, there are some bright spots, it noted... Read More