25 million persons may lose jobs due to Coronavirus pandemic- International Labour Congress predicts

By Victor Isiguzo

The International Labour Congress ILO has predicted 25 million job loses due to the Coronavirus pandemic.

 Mr. Guy Ryder, ILO Director-General, made the prediction in a statement released in Abuja today Thursday March 19th. He said the finding was according to a new assessment by the ILO. Part of the statement reads

 “An initial assessment of the impact of COVID-19 on the global world of work says the effects will be far-reaching, pushing millions of people into unemployment, underemployment and working poverty, and proposes measures for a decisive, coordinated and immediate response. The economic and labour crisis created by the COVID-19 pandemic could increase global unemployment by almost 25 million

However, if we see an internationally coordinated policy response, as happened in the global financial crisis of 2008 and 2009, then the impact on global unemployment could be significantly lower.”