According to a new assessment by the International Labour Organisation (ILO), titled ‘COVID-19 and the world of work: impacts and responses’, calls for urgent, large-scale and coordinated measures across three pillars: protecting workers in the workplace, stimulating the economy and employment, and supporting jobs and incomes. The assessment notes that the economic and labor crisis created by the COVID-19 pandemic could increase global unemployment by almost 25 million.
These measures include extending social protection, supporting employment retention (i.e. short-time work, paid leave, other subsidies), and financial and tax relief, including for micro, small and medium enterprises. In addition, the note proposes fiscal and monetary policy measures, and lending and financial support for specific economic sectors.
The ILO note warns that certain groups will be disproportionately affected by the jobs crisis, which could increase inequality. These include people in less protected and low-paid jobs, particularly youth and older workers and women and migrants as well. The latter are vulnerable due to the lack of social protection and rights, and women tend to be over-represented in low-paid jobs and affected sectors.