The coronavirus crisis will cut working hours by almost 7 per cent worldwide in the second quarter of 2020, a “catastrophic” effect that is equivalent to the loss of 195m full-time workers, the International Labour Organization said on Tuesday.
The UN agency warned that 1.25bn workers — almost two-fifths of the 3.3bn-strong global workforce — are employed in sectors suffering drastic falls in output, from retail and real estate to manufacturing, accommodation and food services. More than four-fifths of the global workforce live in countries where full or partial lockdown measures are in place.
“Workers and businesses are facing catastrophe, in both developed and developing economies,” said Guy Ryder, ILO director-general. “It will hit the most vulnerable the hardest.”