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