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COVID-19 wipes out 400 million jobs worldwide

by VTV406 July 2020 Last updated at 10:00 AM

Photo: AP
Photo: AP

VTV.vn - The International Labour Organisation (ILO) estimated that by the mid-year point, global working hours were down 14 per cent compared to last December equivalent to some 400 million full-time jobs.

The United States is currently the area hardest-hit by the pandemic, where over 18 per cent of working hours during the second quarter were lost, equivalent to 70 million full-time jobs.

The ILO painted three possible scenarios for the second half of the year. The most pessimistic scenarios assumes a second wave of the pandemic that significantly slows recovery.

Global working hours would still be 11.9 per cent (the equivalent of 390 million jobs) lower at the year-end than at the end of 2019.

The most optimistic scenario, which assumes a rapid recovery, would still see a 1.2-per cent year-on-year loss of global working hours equivalent to 34 million jobs.

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