Illustration (Photo:Medcom.id)
Illustration (Photo:Medcom.id)

Covid-19 Has Led to Massive Income, Productivity Losses: ILO

Wahyu Dwi Anggoro • 26 January 2021 13:54
Jakarta: Job losses or reduced working hours due to the impact of the covid-19 pandemic cost the world the equivalent of 255 million jobs in 2020, the International Labour Organization (ILO) said on Monday.
 
According to the ILO Monitor: COVID-19 and the world of work, the losses resulted in an 8.3 per cent decline in global income.
 
While there is still a high degree of uncertainty for 2021, the ILO estimates projected that most countries could see a relatively strong recovery in the second half the year, as covid-19 vaccination programmes take effect. 

The United Nations (UN) Agency put forward three scenarios: a baseline estimate showing a 3 per cent decline; a pessimistic forecast indicating a 4.6 per cent loss, and in the most optimistic scenario, a 1.3 per cent decrease in working hours through this year. 
 
"The signs of recovery we see are encouraging, but they are fragile and highly uncertain, and we must remember that no country or group can recover alone," said Guy Ryder, ILO Director-General, in a press release on Monday
 
"We are at a fork in the road. One path leads to an uneven, unsustainable, recovery with growing inequality and instability, and the prospect of more crises. The other focuses on a human-centred recovery for building back better, prioritizing employment, income and social protection, workers’ rights and social dialogue. If we want a lasting, sustainable and inclusive recovery, this is the path policy-makers must commit to," he explained.
 
Meanwhile, in terms of sectors and groups, women were more affected than men, as were younger workers.
 
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(WAH)

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