The COVID-19 pandemic is expected to cut 1.25 billion jobs worldwide

With Coronavirus pandemic, the labor market is facing the worst crisis since World War II, with 1.25 billion workers at risk of losing their jobs. This is stated in the new study of the International Labor Organization (ILO), on job monitoring.

According to the report, ILO estimates that the COVID-19 pandemic is expected to eliminate 6.7 percent of the world’s working hours in the second quarter of 2020 alone, or 195 million full-time jobs.

“Globally, these devastating losses, in terms of working hours and jobs, are the most serious crisis in the world since World War II,” ILO warns.

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