As a result of the Corona pandemic, unemployment is expected to rise globally. According to the International Labor Organization (ILO), the Corona outbreak will cause millions of people to lose their employment around the world.
Because Corona has impacted numerous industries and enterprises around the world, the ILO has predicted that the job problem would last for a long time. It will take time for such industries to recover their former glory.
According to the ILO, the number of individuals who have lost their jobs as a result of the epidemic has risen to almost 75 million this year. This figure is anticipated to become even higher.
“Our forecast is that the worldwide unemployment rate will reach 205 million by 2022,” Guy Ryder, head of the ILO, said in a statement. When compared to the year before the pandemic, the total in 2019 was 180.7 million.
Although rich countries can adapt, inequity in impoverished countries is expected to result in a significant crisis in women’s and youth’s employment. For labor-exporting countries, the job crisis will be more severe.