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The pandemic caused an “unprecedented” hit to the global economy last year, destroying the equivalent of 225 million full-time jobs, the United Nations has said.
The crisis caused an 8.8% drop in working hours – four times more than followed the 2008 financial crisis.
The UN said looking at job cuts alone “drastically” understated the damage.
It also warned that recovery remains uncertain, despite hope that vaccines will spur an economic rebound.
Working hours in 2021 are likely to remain more than 3% lower than they were in 2019 – roughly the equivalent of 90 million full-time jobs, predicts the report, by the UN’s International Labor Organization (ILO).
‘Most severe crisis since 1930s’
Less than 3% of the world’s workers are living in places with economy-wide shutdowns, compared to a peak of more than 40% last April, the ILO said.
(DS)
