What’s the fallout from the pandemic wave of unemployment?
UN’s labour agency warns global outlook could be worse as current figures exclude workers in ‘informal economy’.
Hundreds of millions of people around the world have lost their jobs as a result of the coronavirus pandemic.
But the United Nations’ labour agency warns the global outlook could be much worse, as current figures exclude workers in the so-called “informal economy”.
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That ranges from migrant and shift labourers in the developing world, to freelance and service industry staff taking unprotected jobs in wealthier economies.
The International Labour Organization says 1.6 billion of them could suffer “massive damage” to their livelihoods.
This means half of the members of the global workforce are not sure if their jobs will reappear once the crisis is over.
So, will the job market recover?
Presenter: Sami Zeidan
Guests:
Song Seng Wun – director at CIMB Private Banking
Michelle Leighton – director of ILO Labour Migration Branch
Bruno Verstraete – chief economist at Lakefield Partners