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The United Nations just said that coronavirus could wipe out the equivalent of 195 million jobs worldwide


FILE PHOTO: People who lost their jobs wait in line to file for unemployment following an outbreak of the coronavirus disease (COVID-19), at an Arkansas Workforce Center in Fayetteville, Arkansas, U.S. April 6, 2020. REUTERS/Nick OxfordReuters

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.
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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

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