25 million people could become unemployed due to COVID-19: ILO.

GENEVA -- ILO has estimated that as many as 25 million people could become unemployed, with a loss of workers' income of as much as USD 3.4 trillion.

"The coronavirus pandemic is not just a medical crisis, but a social and economic one too, says ILO Director-General Guy Ryder. He said that the human dimensions of the COVID-19 pandemic reach far beyond the critical health response. All aspects of our future will be affected - economic, social and developmental."

He said: "Our response must be urgent, coordinated and on a global scale, and should immediately deliver help to those most in need. From workplaces, to enterprises, to national and global economies, getting this right is predicated on social dialogue between governments and those on the front line - the employers and workers. So that the 2020s don't become a re-run of the 1930s. However, it is already becoming clear that these numbers may underestimate the magnitude of the impact."

He says this pandemic has mercilessly exposed the deep fault lines in our labour markets. Enterprises of all sizes have already stopped operations, cut working hours and laid off staff. Many are teetering on the brink of collapse as shops and restaurants close, flights and hotel bookings are cancelled, and businesses shift to remote working. Often the first to lose their jobs are those whose employment was already precarious - sales clerks, waiters, kitchen staff, baggage handlers and cleaners.

In a world where only one in five people are eligible for unemployment benefits, layoffs spell catastrophe for millions of families. Because paid sick leave is not available to many carers and delivery workers - those we all now rely on - they are often under pressure to continue working even if they are ill. In the developing world, piece-rate workers, day labourers and informal traders may be similarly pressured by the need to put food on the table. We will all suffer because of this. It will not only increase the spread of the virus but in the longer-term dramatically amplify cycles of poverty and inequality.

He says we have a chance to save millions of jobs and enterprises, if governments act decisively to ensure business continuity, prevent layoffs and protect vulnerable workers. We should have no doubt that the decisions they take today will determine the health of...