Nearly Half of Global Workforce May Lose Livelihoods due to Job Losses

Nearly Half of Global Workforce May Lose Livelihoods due to Job Losses

The continued sharp decline in working hours globally due to the new coronavirus , COVID-19, outbreak means that 1.6 billion workers in the informal economy - that is nearly half of the global workforce - stand in immediate danger of having their livelihoods destroyed, warns the International Labour Organisation, ILO.. The previous estimate was for a 6.7 per cent drop, equivalent to 195 million full-time workers.. Estimates suggest a 12.4 percent loss of working hours in second quarter for the Americas (compared to pre-crisis levels) and 11.8 percent for Europe and Central Asia.. The estimates for the rest of the regional groups follow closely and are all above 9.5 percent.. The first month of the crisis is estimated to have resulted in a drop of 60 percent in the income of informal workers globally.. The ILO calls for urgent, targeted and flexible measures to support workers and businesses, particularly smaller enterprises, those in the informal economy and others who are vulnerable..