June 4, 2021 | Investopaper
Unemployment is projected to rise worldwide due to the Corona epidemic. The International Labor Organization (ILO) has projected that millions of people around the world will lose their jobs due to the Corona epidemic.
ILO has projected that the employment crisis will continue for a long time as Corona has affected many industries and businesses around the world. It will take time for those industries to return to their original state.
According to the ILO, the number of people losing their jobs due to the epidemic this year has reached about 75 million. This number is expected to increase further.
Guy Ryder, director of the ILO, said in a statement: “Our projection is that the global unemployment rate will reach 205 million by 2022. If we compare it before the onset of the epidemic, in 2019 the figure was 180.7 million. “
Although rich countries can cope with this, inequality in poor countries is likely to lead to a major crisis in the employment of women and youth. The employment crisis will be more severe for labor-exporting countries.