Economics
Global Crisis Damage From Covid-19 Is Now About 255 Million Jobs
- ILO report shows damage persisting even in optimistic scenario
- Global economy shed 255 million jobs amid virus curbs in 2020
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The world economy won’t be able to fully repair last year’s damage to employment in 2021 after the Covid-19 pandemic wiped out the equivalent of 255 million jobs, according to the International Labour Organization.
Even under the most optimistic assumptions, working hours will still be lower compared to pre-crisis levels, the ILO said in a report on Monday. Under the organization’s baseline scenario, the global economy will end this year with the equivalent of 90 million fewer full-time jobs than before the outbreak.