Reuters
A United Nations agency released a report on Tuesday forecasting a 7% drop in global working hours in the second quarter. A drop so severe represents roughly 195 million full-time jobs worldwide.
The devastating report comes just three weeks after the agency said the coronavirus will wipe out 25 million jobs — Guy Ryder, the director of United Nations’ International Labour Organization, now estimates 30 million jobs were lost in the first quarter of 2020 alone.
Ryder said the “catastrophe” is evident in “both developed and developing countries,” and will be more evident in certain sectors, like retail and food services.
Visit Business Insider’s homepage for more stories
The coronavirus pandemic is already pushing the global economy toward recession, with job losses already erupting across many labor sectors within the US. And the United Nations’ International Labour Organization (ILO) just said its going to get worse worldwide.
On Tuesday, the ILO said the coronavirus is expected to decimate global working hours by nearly 7% in the coming months — a dramatic dip equivalent to 195 million full-time jobs worldwide.See the rest of the story at Business Insider
See Also:
3 Great Recession grads who now earn 6 figures and have worked for Netflix and Bank of America share the exact steps they took to land a job during a downturnTesla, Apple, and Ford are stepping up to address global shortages of ventilators, hand sanitizer, face masks, and gowns. Here’s a running list of companies helping out.5 ways to use the quarantine to strengthen your relationship, according to a relationship and intimacy expert
Article Source and Credit feedproxy.google.com http://feedproxy.google.com/~r/businessinsider/~3/-2TTu1frrrc/united-nations-agency-predicts-drop-in-global-working-hours-2020-4 Buy Tickets for every event – Sports, Concerts, Festivals and more buytickets.com
Leave a Reply
You must be logged in to post a comment.