About 25 million jobs could be lost worldwide due to coronavirus: UN
4 years, 9 months ago

About 25 million jobs could be lost worldwide due to coronavirus: UN

The Hindu  

Nearly 25 million jobs could be lost worldwide due to the coronavirus pandemic, but an internationally coordinated policy response can help lower the impact on global unemployment, according to a UN agency. The economic and labour crisis created by the COVID-19 pandemic could increase global unemployment by almost 25 million, the ILO said. “However, if we see an internationally coordinated policy response, as happened in the global financial crisis of 2008/9, then the impact on global unemployment could be significantly lower,” it added. Underscoring the need for swift and coordinated policy responses, ILO Director-General Guy Ryder said “this is no longer only a global health crisis, it is also a major labour market and economic crisis that is having a huge impact on people.” “In 2008, the world presented a united front to address the consequences of the global financial crisis, and the worst was averted.

Global Impact Jobs Unemployment Crisis Million Ilo Global Unemployment  financial  policy  jobs  ilo  crisis  lost  global  million  25  impact  worldwide  workers  coronavirus  unemployment

History of this topic

Latest ILO study links AI to dip in labour income
4 months ago

Latest ILO study links AI to dip in labour income

The Hindu  

Inequality is on the rise as the share of labour income has stagnated worldwide and a large share of youth remain out of employment, education, or training, according to the International Labour Organisation’s World Employment and Social Outlook: September 2024 Update, released in Geneva on Wednesday. The ILO analysed the impact of technological innovations over the last two decades across …

ILO sees structural imbalances in global labour market
11 months, 4 weeks ago

ILO sees structural imbalances in global labour market

The Hindu  

Global unemployment rate is set to increase in 2024 while growing social inequalities remain a concern, said the International Labour Organisation’s World Employment and Social Outlook: Trends 2024 report released in Vienna on Wednesday. On a positive note, the report said, despite the economic slowdown, global growth in 2023 was modestly higher than anticipated, and labour markets showed surprising resilience. …

Employment levels still lower than before pandemic, analysis suggests
1 year, 5 months ago

Employment levels still lower than before pandemic, analysis suggests

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Employment remains lower in the UK than before the pandemic, …

Jobs growth slow, unemployment high, more people pushed to poverty: ILO
1 year, 11 months ago

Jobs growth slow, unemployment high, more people pushed to poverty: ILO

The Hindu  

The current global economic slowdown is likely to widen social and economic inequalities as more workers will be forced to accept lower quality, poorly paid jobs which lack job security and social protection, warned the International Labour Organization. “This unmet demand for jobs includes the 205 million unemployed people and an additional 268 million who wanted employment but did not …

Unemployed population may rise in 2023; Nearly 21 cr may become jobless: Report
1 year, 11 months ago

Unemployed population may rise in 2023; Nearly 21 cr may become jobless: Report

Live Mint  

The latest report by the United Nations agency has given a negative forecast regarding the job sector for 2023. The number of unemployed people in the world is expected to rise by 3 million to 208 million in 2023--an increased unemployment rate of 5.8%, while inflation will eat into real wages, the report added. "The slowdown in global employment growth …

Striking fall in wages could lead to social unrest, warns International Labour Organisation
2 years, 1 month ago

Striking fall in wages could lead to social unrest, warns International Labour Organisation

The Hindu  

Inflation and a global slowdown in economic growth due to the war in Ukraine and global energy crisis are causing a “striking fall” in real monthly wages in many countries, says a report by the International Labour Organisation. Except for Mexico, in 2022 all emerging G20 economies exhibit average monthly wages that are higher in real terms than the baseline,” …

EXPLAINER: 5 key takeaways from the June jobs report
2 years, 6 months ago

EXPLAINER: 5 key takeaways from the June jobs report

Associated Press  

WASHINGTON — Inflation is raging. And the Fed will likely see June’s hiring spree as another reason to keep aggressively raising its benchmark short-term interest rate as it did in March, May and June to try to tame inflation. Here are five takeaways from the June jobs report: HIRING: STRONG BUT SLOWING “The recent numbers usually would be consistent with …

EXPLAINER: 5 key takeaways from the June jobs report
2 years, 6 months ago

EXPLAINER: 5 key takeaways from the June jobs report

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. And the Fed will likely …

The workers hit the hardest
2 years, 8 months ago

The workers hit the hardest

The Hindu  

According to the Centre for Monitoring Indian Economy ’s Consumer Pyramids Household Survey, employment in India fell from 408.9 million in 2019-20 to 387.2 million in 2020-21 and then recovered to 401.8 million in 2021-22. The 7 million jobs lost over the two years since the COVID-19 outbreak is unevenly distributed, so it may be difficult to cover most of …

Strong job growth points to COVID’s fading grip on economy
2 years, 10 months ago

Strong job growth points to COVID’s fading grip on economy

Associated Press  

WASHINGTON — In a buoyant sign for the U.S. economy, businesses stepped up their hiring last month as omicron faded and more Americans ventured out to spend at restaurants, shops and hotels despite surging inflation. Yet the February hiring data suggest that two years after COVID-19 sparked a nationwide shutdown and 22 million job losses, the disease is losing its …

Unemployment rate down, but does that mean more jobs created? Data suggest otherwise
2 years, 10 months ago

Unemployment rate down, but does that mean more jobs created? Data suggest otherwise

India Today  

The Covid-19 pandemic severely hit the job market in 2020. The unemployment rate dropped to 6.6 per cent in January 2022, which is lower than the pre-pandemic levels of 7.2 per cent in January 2020. The labour force participation rate fell from 40.9 per cent in December 2021 to 39.9 per cent in January 2022. These two ratios show the …

A likely poor jobs figure for January could prove temporary
2 years, 11 months ago

A likely poor jobs figure for January could prove temporary

LA Times  

Last month, U.S. employers might have shed jobs for the first time in about a year, potentially raising alarms about the economy’s trajectory. Yet even if the January employment report coming Friday were to show a deep loss of jobs, there would be little mystery about the likely culprit: a wave of Omicron cases last month that led millions of …

AP FACT CHECK: Biden puffs up claims of virus, job gains
2 years, 11 months ago

AP FACT CHECK: Biden puffs up claims of virus, job gains

Associated Press  

WASHINGTON — In a self-appraisal that didn’t always fit with the facts, President Joe Biden on Wednesday made the dubious assertion that he’s outperformed all expectations on the pandemic in his first year and inflated his contribution to COVID-era economic growth. Biden himself set higher expectations than have been met when he held a July 4 event headlined a celebration …

52 million job deficit, 21 million more unemployed in 2022: Report
2 years, 11 months ago

52 million job deficit, 21 million more unemployed in 2022: Report

Hindustan Times  

A return to the pre-pandemic performance of the global labour market is likely to remain elusive for much of the world in the coming years, the International Labour Organization has said. In its report titled World Economic and Social Outlook - Trends 2022, the UN agency predicted that the total hours worked globally this year will remain almost 2 per …

US unemployment claims drop to new pandemic low
3 years, 2 months ago

US unemployment claims drop to new pandemic low

Live Mint  

The number of Americans applying for unemployment benefits fell to a fresh pandemic low last week, another sign the job market is healing after last year's coronavirus recession. Since topping 900,000 in early January, the weekly applications have fallen more or less steadily ever since and are gradually moving toward prepandemic levels of around 220,000 a week. Overall, 2.1 million …

Economic oddity: Record job openings and many unemployed
3 years, 4 months ago

Economic oddity: Record job openings and many unemployed

Associated Press  

WASHINGTON — The disconnect is jarring: Across the United States, employers who are desperate to fill jobs have posted a record-high number of job openings. On Wednesday, the Labor Department reported that employers posted 10.9 million job openings in July — the most on records dating to 2000. “But a fair number of unemployed or job seekers don’t feel that …

World Employment and Social Outlook: Trends 2021
3 years, 5 months ago

World Employment and Social Outlook: Trends 2021

Hindustan Times  

The Covid-19 pandemic has caused unparalleled disruption worldwide through its devastating impact on public health, employment and livelihoods. In 2020, an estimated 8.8% of total working hours were lost – the equivalent of the hours worked in one year by 255 million full-time workers. Taken together, these losses mean that the global shortfall in employment increased by 144 million jobs …

No recovery in global jobs market from pandemic until at least 2023: ILO
3 years, 7 months ago

No recovery in global jobs market from pandemic until at least 2023: ILO

Live Mint  

At least 220 million people are expected to remain unemployed globally this year, well above pre-pandemic levels, with a weak labour market recovery exacerbating existing inequalities, the International Labour Organization said on Wednesday. The United Nations agency forecast the outlook improving to 205 million unemployed next year - still well above the 187 million recorded in 2019 before the coronavirus …

Job loss to remain high due to slow vaccines, COVID variants: ILO
3 years, 7 months ago

Job loss to remain high due to slow vaccines, COVID variants: ILO

Al Jazeera  

The coronavirus pandemic‐induced shortfall in jobs is estimated to remain at 75 million in 2021 and 23 million in 2022. Slower‐than‐expected vaccine rollouts and a resurgence of coronavirus variants in early 2021 have dampened the global jobs recovery forecast, with losses in both working hours and employment remaining high throughout this year and into 2022, the International Labour Organization warned …

Covid-19: How 2nd wave has impacted jobs, household incomes
3 years, 7 months ago

Covid-19: How 2nd wave has impacted jobs, household incomes

India Today  

The second wave of Covid-19 has severely impacted household incomes and jobs as local lockdowns remain imposed in most states. Over 10 million Indians have lost their jobs because of the second wave of Covid-19, and around 97 per cent of households have faced income loss since the beginning of the pandemic last year, Centre for Monitoring Indian Economy chief …

AP FACT CHECK: Hyperbole from Biden, GOP on state of economy
3 years, 7 months ago

AP FACT CHECK: Hyperbole from Biden, GOP on state of economy

Associated Press  

WASHINGTON — President Joe Biden and House Republicans alike are revising history when asserting that the new administration set records in U.S. job creation — either the best ever or among the worst, depending on the vantage point. He has created the most jobs in his first three months than any other president — about 1.5 million — but that’s …

Coronavirus: Black youths ‘three times as likely to be jobless’
3 years, 8 months ago

Coronavirus: Black youths ‘three times as likely to be jobless’

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ /verifyErrors }} Young black workers …

Report on Human Rights Violations in the United States in 2020
3 years, 9 months ago

Report on Human Rights Violations in the United States in 2020

China Daily  

V. Growing Polarization Between Rich and Poor Aggravates Social Inequality The COVID-19 epidemic plunged the United States into the worst economic downturn since World War II. The website of Bloomberg reported on Oct. 8, 2020 that the 50 richest Americans now hold almost as much wealth as the poorest 165 million people in the country. The website of Forbes reported …

Patralekha Chatterjee | Halt Covid complacency: Be vigilant, keep all safe
3 years, 9 months ago

Patralekha Chatterjee | Halt Covid complacency: Be vigilant, keep all safe

Deccan Chronicle  

Around this time last year, Prime Minister Narendra Modi announced a nationwide lockdown to stop the spread of the coronavirus. According to a recent survey by the Delhi government, the unemployment rate in Delhi was 11.1 per cent before the onset of the pandemic and it shot up to 28.5 per cent during October-November 2020, an increase of 17.4 per …

Coronavirus | Pandemic may have doubled poverty in India, says Pew study
3 years, 9 months ago

Coronavirus | Pandemic may have doubled poverty in India, says Pew study

The Hindu  

March 19, 2021 08:07 pm | Updated March 20, 2021 10:59 am IST - NEW DELHI India’s middle class may have shrunk by a third due to 2020’s pandemic-driven recession, while the number of poor people — earning less than ₹150 per day — more than doubled, according to an analysis by the Pew Research Center. “The middle class in …

These 5 charts show the pandemic’s brutal impact on American workers
3 years, 9 months ago

These 5 charts show the pandemic’s brutal impact on American workers

CNN  

Editor’s Note: It’s been one year since Covid-19 was declared a pandemic and businesses started closing. CNN Business looks back on the pandemic’s impact on the global workforce and how things may have forever changed. New York CNN Business — A year ago, the Covid-19 pandemic prompted a swift, sweeping lockdown on the United States. The following five charts illustrate …

Why the pandemic left long-term scars on global job market
3 years, 9 months ago

Why the pandemic left long-term scars on global job market

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. “The truth is, I want my job back,’’ said …

Jump in hiring fuels optimism for US economic recovery
3 years, 10 months ago

Jump in hiring fuels optimism for US economic recovery

Associated Press  

WASHINGTON — U.S. hiring accelerated more quickly than expected last month, evidence that a year after the pandemic took hold, the economy is strengthening as virus cases drop and vaccinations ramp up. “The recovery really has some legs, some momentum now,” said Odeta Kushi, deputy chief economist at First American Financial Corp. Stocks see-sawed through the day but ended sharply …

February Jobs Report Shows Large Recovery Gap Remains : The Indicator from Planet Money : NPR
3 years, 10 months ago

February Jobs Report Shows Large Recovery Gap Remains : The Indicator from Planet Money : NPR

NPR  

Still Not Good Tho Enlarge this image OLI SCARFF/AFP via Getty Images OLI SCARFF/AFP via Getty Images The labor market is still in rough shape, but it is improving. The Bureau of Labor Statistics just released the jobs report for the month of February, and it showed that the labor market created 379,000 jobs. More than 379,000 jobs created may …

One year into the pandemic, America is still down nearly 10 million jobs
3 years, 10 months ago

One year into the pandemic, America is still down nearly 10 million jobs

CNN  

New York CNN Business — The American job market is nowhere near fixed. Nearly one year into the pandemic, the nation is still down nearly 10 million jobs. Continued benefit claims, which count applications submitted for at least two weeks in a row, stood at 4.3 million in the week ended February 20, down from the week before. To be …

18 million Indians will switch careers by 2030 due to covid-19
3 years, 10 months ago

18 million Indians will switch careers by 2030 due to covid-19

Live Mint  

The pandemic has changed our relationship with work irrevocably—we know this but a new study estimated that 18 million workers in India will change their occupation in the next decade, all because of the novel coronavirus. Worldwide, about 100 million workers may need to shift from their current occupation in the next decade due to the impact of covid-19, states …

COVID-19 pandemic will force 1.8 crore Indians to find a new occupation by 2030, says McKinsey report
3 years, 10 months ago

COVID-19 pandemic will force 1.8 crore Indians to find a new occupation by 2030, says McKinsey report

Firstpost  

Mumbai: COVID-19 will have a lasting impact on labour markets, and as much as 18 million Indian workers will be forced to switch to a newer occupation by 2030 because of the pandemic, a report said on Friday. The impact will be “disproportionately” felt on low-wage workers in retail, food services, hospitality, and office administration, the report by McKinsey Global …

COVID-19 pandemic will force 18 million Indians to find a new occupation by 2030: Report
3 years, 10 months ago

COVID-19 pandemic will force 18 million Indians to find a new occupation by 2030: Report

India TV News  

COVID-19 will have a lasting impact on labour markets, and as much as 18 million Indian workers will be forced to switch to a newer occupation by 2030 because of the pandemic, a report said on Friday. The impact will be "disproportionately" felt on low-wage workers in retail, food services, hospitality, and office administration, the report by McKinsey Global Institute, …

US jobless claims drop; still at 847,000 as pandemic rages
3 years, 11 months ago

US jobless claims drop; still at 847,000 as pandemic rages

Associated Press  

WASHINGTON — The number of Americans applying for unemployment benefits fell but remained at a historically high 847,000 last week, a sign that layoffs keep coming as the coronavirus pandemic continues to rage. Tempering last week’s bigger-than-expected drop in claims: The four-week moving average — which smooths out week to week gyrations — rose by more than 16,000 last week …

US jobless claims drop; still at 847,000 as pandemic rages
3 years, 11 months ago

US jobless claims drop; still at 847,000 as pandemic rages

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Thanks …

Unemployment decreased slightly in December
3 years, 11 months ago

Unemployment decreased slightly in December

NL Times  

A total of 368 thousand Netherlands residents were unemployed in December. Over the past three months, the number of unemployed people in the Netherlands decreased by an average of 15 thousand per month, and the number of people who had paid work increased by 24 thousand per month on average. Largely due to the coronavirus pandemic, the number of unemployed …

Minority workers are bearing the brunt of pandemic job cuts – the government must act
3 years, 11 months ago

Minority workers are bearing the brunt of pandemic job cuts – the government must act

The Independent  

The pandemic has delivered economic and public health gut punches that have hit disadvantaged groups twice as hard on both fronts. The unemployment rate among minority workers was 7 per cent between July and September 2019. Among white workers the figures were 3.6 per cent and 4.5 per cent respectively, a rise of just 0.9 percentage points. A ban on …

US unemployment: Low-paid jobs hit hardest in pandemic economy
4 years ago

US unemployment: Low-paid jobs hit hardest in pandemic economy

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Ten months into America’s viral …

Pandemic Pricetag: U.S. Employers Cut 140,000 Jobs In December
4 years ago

Pandemic Pricetag: U.S. Employers Cut 140,000 Jobs In December

NPR  

Employers Cut 140,000 Jobs In December Enlarge this image toggle caption Olivier Douliery/AFP via Getty Images Olivier Douliery/AFP via Getty Images U.S. employers cut 140,000 jobs in December as the runaway coronavirus pandemic continued to weigh on the U.S. labor market. "The restrictions that we've seen from both governments as well as just the voluntary restrictions where people have been …

Covid, pandemic and lockdown: How 2020 changed the world
4 years ago

Covid, pandemic and lockdown: How 2020 changed the world

Live Mint  

When the world celebrated the dawn of a new decade with a blaze of firework parties and revelry on January 1, few could have imagined what 2020 had in store. "This is a pandemic experience that's unique in the lifetime of every single person on Earth," says Sten Vermund, infectious disease epidemiologist and dean of Yale School of Public Health. …

A pandemic atlas: USA by the numbers, telling and horrifying
4 years ago

A pandemic atlas: USA by the numbers, telling and horrifying

Associated Press  

Month after dismal month, Americans have been inundated by an ever-rising tide of devastating numbers. By mid-December, five in every 100 Americans — more than 16 million — had been infected by COVID-19. But they don’t fully capture the multitude of ways, large and small, that the virus has upended and reconfigured everyday life in the U.S. For that, there …

A pandemic atlas: USA by the numbers, telling and horrifying
4 years ago

A pandemic atlas: USA by the numbers, telling and horrifying

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. But they don’t fully capture the multitude of ways, …

COVID-19 could push over 1 billion into extreme poverty by 2030, says UN study
4 years, 1 month ago

COVID-19 could push over 1 billion into extreme poverty by 2030, says UN study

Firstpost  

The study assesses the impact of different COVID-19 recovery scenarios on the Sustainable Development Goals, evaluating the multidimensional effects of the pandemic over the next decade United Nations: An additional 207 million people could be pushed into extreme poverty by 2030 due to the severe long-term impact of the coronavirus pandemic, bringing the total number of the world’s extremely poor …

Coronavirus pandemic could push over 1 billion people in extreme poverty by 2030, says UN
4 years, 1 month ago

Coronavirus pandemic could push over 1 billion people in extreme poverty by 2030, says UN

India Today  

Due to the severe long-term impact of the coronavirus pandemic, an additional 207 million people could be pushed into extreme poverty by 2030. "Severe long-term effects of the Covid-19 pandemic could push an additional 207 million people into extreme poverty on top of the current pandemic trajectory, bringing the total to over 1 billion by 2030," the study added. The …

Economic impact of coronavirus will hit next year, experts say
4 years, 1 month ago

Economic impact of coronavirus will hit next year, experts say

Dutch News  

Despite the slight drop in the unemployment rate this week, and signs of a speedier economic recovery from the coronavirus crisis, the big hit will be felt in the second quarter of next year, according to experts. In total, 102 banking, legal and investment experts took part in a survey on the likely impact of the crisis carried out by …

October jobs report: America added 638,000 jobs last month but is still down 10 million since the pandemic started
4 years, 2 months ago

October jobs report: America added 638,000 jobs last month but is still down 10 million since the pandemic started

CNN  

New York CNN Business — America’s jobs recovery continued in October, as jobs were added for a sixth straight month and the unemployment rate fell further, Bureau of Labor Statistics data showed Friday. The economy added 638,000 jobs last month, more than economists had expected, even though it was a slowdown from the prior months. It’s also important to remember …

US economy adds 638,000 jobs in October as recovery slows
4 years, 2 months ago

US economy adds 638,000 jobs in October as recovery slows

Al Jazeera  

While the US jobs market is moving in the right direction, the recovery is facing major headwinds including surging COVID-19 infections and the risk that struggling households will blow through their savings as federal virus relief aid dwindles. The economy added 638,000 jobs in October, the US Bureau of Labor Statistics reported on Friday – 34,000 fewer than September’s revised …

751,000 seek US jobless benefits as virus hobbles economy
4 years, 2 months ago

751,000 seek US jobless benefits as virus hobbles economy

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The number of Americans seeking …

A Lost Decade: Decoding the cost of Covid-19 pandemic
4 years, 2 months ago

A Lost Decade: Decoding the cost of Covid-19 pandemic

India Today  

A decade after facing the worst financial crisis since the Great Depression in the 1930s, the world has again stumbled upon an unprecedented economic challenge due to a microscopic virus. Citing International Labour Organisation estimates, the UNCTAD report indicated that the pandemic has put jobs of more than 500 million people in jeopardy, mainly in the developing world. In what …

World experiencing one of the deepest recessions due to COVID-19: World Bank
4 years, 2 months ago

World experiencing one of the deepest recessions due to COVID-19: World Bank

India TV News  

The world is experiencing one of the deepest recessions since the Great Depression in the 1930s owing to the novel coronavirus, World Bank President David Malpass has said, terming the COVID-19 pandemic a "catastrophic event" for many developing and the poorest countries. For the developing countries, and especially the poorest developing countries, that downward leg in the K is an …

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