Published 11:01 IST, March 19th 2020
'25 million could lose their jobs due to the COVID-19 pandemic', says United Nations
United Nations has raised another serious economic concern that the COVID-19 pandemic has a high possibility of significantly increasing the global unemployment
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As the Coronavirus Pandemic that has gripped the world at large, the United Nations on Wednesday has raised another serious economic concern that the COVID-19 pandemic has a high possibility of significantly increasing global unemployment, leaving up to 25 million more people out of work, and will dramatically slash workers' incomes.
The International Labour Organisation conducted a fresh study and said in its release, "The economic and labour crisis created by the COVID-19 pandemic could increase global unemployment by almost 25 million.
"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," ILO chief Guy Ryder said in a statement.
First detected in Wuhan in December 2019, COVID-19; the novel Coronavirus has affected nearly 170 countries in the world. Presently, there are over 2,19,000 confirmed cases of COVID-19 which has led to the death of over 8900 people. As there is no vaccine or specific antiviral medicine to deal to treat COVID-19, countries have been grappling with all possible mechanisms to contain its scope. So far, China, South Korea, Italy, and Iran have witnessed the most number of confirmed cases of the novel Coronavirus, with the WHO declaring Europe as the new 'epicentre' of the deadly virus.
In India, the centre and state governments are taking all measures possible to contain the virus. Schools, colleges, malls, gyms, religious places of worship have been closed to avoid gathering of people. Offices, government, as well as private, have been asked to cut down their working capacity by 50 per cent as a preventive measure. The total number of confirmed COVID-19 cases in India has reached 175 of which 14 have recovered and discharged, while the nation has witnessed 3 deaths due to the virus.
(with inputs from agencies)
11:01 IST, March 19th 2020