Impact on workers of COVID-19 is ‘catastrophic’: ILO – UN News

ThebleaknewsfromILO Director-General Guy Ryder coincided with anupdatedmid-yearforecastfrom the UN body.

Lowerandmiddle-incomecountrieshavesuffered most, withan estimated 23.3 per centdrop in working hours equivalent to240 millionjobs -in the second quarter.

Previously, the ILO had suggested a 14 per cent averagedrop inglobal working time, equivalent to the loss of 400 million jobs, relative to the fourth quarter of 2019.

Workers in developing nations had also seen theirincomedropmore than 15 per cent, ILO Director-General Guy Ryder told journalists inGeneva.

On top of this, these are the places where there are the weakest social protection systems, so there are very few resources or protections for working people to fall back upon,he said.If you look at it regionally, the Americas were worst-affected,with losses of 12.1 per cent.

Mr. Ryder highlighted that while the Governments of richer countries had shored up their economies with hundreds of billions of dollars, poorer nationshad beenunable to do the same.

Without such fiscal stimulus, working hours losses would have been 28per centbetween April and June,instead of 17.3per cent, he insisted.

Nonetheless,State financialsupporthas led to the emergence of an extremely worryingfiscal stimulus gapbetweenwealthyeconomiesandthe developing world,amounting to $982 billion, Mr. Ryder warned.

Itrunsarisk ofleading us topost-COVID world with greater inequalities between regions, countries, sectors andsocialgroups, he said.Its apolar opposite to the better worldthatwe want to build back,and itreminds usall, that unless we are allable to overcome and get out of this pandemic, none of us will.

Althoughthe $982 billionglobalstimuluspackagewas a staggering sum, the ILO Director-General noted thatlow-income countries needed a fraction of this figure - $45 billionto support workers in the same way as wealthier nationshad done,whilelower-middle-income countries required theremaining$937billion.

Other data from the ILO Monitor indicates that for the thirdfiscalquartercovering July to September,12.1per cent ofglobal working time will be lost, which is equivalent to345millionfull-timejobs.

The finalquarterof the yearenvisagesa significant worsening ofthesituationfor workerssince the UN agencys lastassessment in June, with a minimum8.6per cent drop inglobal working time up fromup from 4.9per centmid-yearcorrespondingto 245million full-timejobs.

To protect workers and economies everywhere, Mr. Ryder warned against any premature loosening ofsupport forhealth measuresaimed at combating the pandemic, in view of increasing infection rates in many countries.

Support for jobs and incomesshould besustained into next year,heinsisted, while also calling for finding ways to increasetechnical help and official developassistance to emerging economies.

It was also important toprioritiseincomesupport for thehardest-hit groups, namelywomen,young people and informal workers, he added.

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Impact on workers of COVID-19 is 'catastrophic': ILO - UN News