The International Labor Organization (ILO) said today, Wednesday, that the labor market worldwide is expected to lose 25 million jobs as a result of the outbreak of the Corona virus, in the first preliminary evaluation of the organization .
The organization said in a statement today, that losing jobs will push millions of people to unemployment, underemployment and poverty, calling for an immediate response to reduce the impact of the virus on the labor market .
As of Wednesday noon, Corona had infected more than 203,000 people in 167 countries and territories, of whom more than 8,000 died, most of them in China, Italy, Iran, Spain, South Korea, Germany, France and the United States .
Today, the organization considered that the economies of the world are required to take measures similar to those applied during the 2008 global financial crisis, most notably protecting workers in the workplace, stimulating the economy and employment, and supporting jobs and income .
It also includes measures, expanding social protection, support for retaining employment (i.e. short-time work, paid leave, and other benefits), and financial and tax exemption, including MSMEs .
The International Labor Organization developed job loss scenarios according to the spread of the virus, and said: "Our estimates indicate the loss of 5.3 million jobs in the low scenario, and 24.7 million according to the high scenario ."
The global financial crisis in 2008 caused 22 million people to lose their jobs, according to the statement .
And the organization added: "The decline in employment will push towards large losses in employment incomes, estimated between $ 860 billion and $ 3.4 trillion by the end of 2020; this will translate into a decrease in the consumption of goods and services ."
It estimated that between 8.8 million and 35 million additional people will live in poverty worldwide .
The worldwide spread of the virus has forced many countries to close their borders, suspend flights, cancel several events, and prevent gatherings, including Friday and Friday prayers .
