{"id":253598,"date":"2020-04-30T20:34:28","date_gmt":"2020-05-01T00:34:28","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=253598"},"modified":"2020-04-30T20:34:28","modified_gmt":"2020-05-01T00:34:28","slug":"ilo-raises-global-job-loss-forecast-to-305m-amid-virus","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2020\/04\/30\/ilo-raises-global-job-loss-forecast-to-305m-amid-virus\/","title":{"rendered":"ILO raises global job loss forecast to 305M amid virus"},"content":{"rendered":"
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The drop was due to “the prolongation and extension of lockdown measures” imposed due to the novel coronavirus outbreak, the ILO told reporters in a virtual press conference in Geneva. (Pixabay photo)<\/figcaption><\/figure>\n

GENEVA<\/strong>\u00a0\u2013 The International Labor Organization (ILO) on Wednesday announced an increase in estimated full-time job losses to 10.5 percent of the world’s workforce to 305 million since the beginning of 2020.<\/p>\n

The drop was due to “the prolongation and extension of lockdown measures” imposed due to the novel coronavirus outbreak, the ILO told reporters in a virtual press conference in Geneva.<\/p>\n

The ILO also noted that the sharp decline in working hours globally due to Covid-19 meant that 1.6 billion workers in the informal economy — nearly half the global workforce — were in immediate danger of losing their livelihoods.<\/p>\n

“As the pandemic and the jobs crisis evolve, the need to protect the most vulnerable becomes even more urgent,” said ILO-Director General Guy Ryder. “For millions of workers, no income means no food, no security and no future. Millions of businesses around the world are barely breathing.\u201d<\/p>\n

The organization called for urgent, targeted and flexible measures to support workers and businesses, particularly smaller enterprises, those in the informal economy and others who were vulnerable.<\/p>\n

The organization said that compared to pre-Covid-19 crisis levels in the fourth quarter of 2019, a 10.5 percent deterioration was now expected to have occurred — the equivalent of 305 million full-time jobs assuming a 48-hour working week.<\/p>\n

The previous estimate had been a 6.7 percent drop, which translates to 195 million full-time employees.<\/p>\n

Ryder said that on top of losing their jobs, informal workers also had no savings or access to credit.<\/p>\n

“These are the real faces of the world of work. If we don’t help them now, they will simply perish,” said Ryder.<\/p>\n

Without alternative income sources, such workers and their families will have no means to survive, he added.<\/p>\n

Ryder noted that the first month of the crisis was estimated to have seen a drop of 60 percent in the income of informal workers globally.<\/p>\n

That drop translates into a decline of 81 percent in Africa and the Americas, 21.6 percent in Asia and the Pacific and 70 percent in Europe and Central Asia.<\/p>\n

Boeing to cut 10% of jobs<\/strong><\/p>\n

In Washington, Boeing said it will reduce its workforce by about 10 percent amid economic fallout from the coronavirus pandemic.<\/p>\n

CEO Dave Calhoun said new reductions in production rates and the continued effect of Covid-19 on business is forcing the move.<\/p>\n

“We have begun taking action to lower our number of employees by roughly 10 percent through a combination of voluntary layoffs, natural turnover and involuntary layoffs as necessary,” Calhoun said in a video message to employees, according to The Hill website.<\/p>\n

Boeing, the nation’s largest aerospace company, globally employs about 160,000 workers, according to estimates.<\/p>\n

Since the beginning of the pandemic, 26 million Americans have lost jobs and the layoffs by Boeing will put pressure on the economy.<\/p>\n

As well, the US economy shrank 4.8 percent in first quarter from January through March, the biggest decline since the Great Recession.<\/p>\n

“Please know that we will do everything we can to minimize that impact, and as we take these steps, we will be as fair and transparent as possible — and absolutely honest and respectful,” said Calhoun.<\/p>\n

As of Wednesday, more than 1 million people have been infected and nearly 60,000 have died from Covid-19 in the US, according to Johns Hopkins University in the state of Maryland.\u00a0(Anadolu)<\/strong><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

GENEVA\u00a0\u2013 The International Labor Organization (ILO) on Wednesday announced an increase in estimated full-time job losses to 10.5 percent of …<\/p>\n","protected":false},"author":44,"featured_media":240648,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19,16,17],"tags":[],"class_list":["post-253598","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","category-news","category-news-w","mauthors-anadolu","mauthors-philippine-news-agency"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/253598","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=253598"}],"version-history":[{"count":2,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/253598\/revisions"}],"predecessor-version":[{"id":253600,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/253598\/revisions\/253600"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/240648"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=253598"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=253598"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=253598"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}