Over 250 Million Full-Time Positions Eliminated in 2020: Top 5 Work Trends Unveiled Globally
The International Labour Organization (ILO) has released a report detailing the impact of the coronavirus pandemic on employment, revealing that the global workforce has been significantly affected. The report, which covers the years 2020, 2021, and 2022, does not mention any changes in the unemployment rate or the number of working hours lost during these years.
However, the report states that nearly 9% of global working hours were lost in 2020, equivalent to 255 million full-time jobs. This loss of jobs included 114 million workers who became unemployed or had their working hours restricted due to the pandemic.
Experts predict that more hours of work will be lost in 2021 and possibly even in 2022, with the food services, retail, and manufacturing sectors expected to continue being hardest-hit by job losses. The report does not specify the geographical location of the anticipated job losses.
The report also highlights that women and younger workers were disproportionately affected by unemployment. However, it does not provide information on the recovery rate or the current status of these lost jobs.
It's important to note that the report does not provide any projections on the economic impact of the continued job losses in 2021 and 2022, nor does it specify the number of additional jobs that could be lost during this period.
For more precise estimates, consulting reports by organizations like the ILO or the World Bank released during or after 2022 would be most informative, as they have tracked global working hour losses extensively.
The report does not mention any specific measures taken to address the job losses or the anticipated job losses. It's crucial for governments and organisations to implement strategies to support affected workers and industries in order to mitigate the long-term effects of the pandemic on global employment.
The report reveals that the food services, retail, and manufacturing sectors are expected to continue losing significant amounts of work hours in 2021 and possibly 2022. In the realm of finance and business, it's crucial for governments and organizations to implement strategies to support affected workers and industries, as this could have long-term impacts on global employment.
