January 25th local time, the International Labour Organization released the latest report on the world monitoring of COVID-19 and labor.
The report shows that after the unprecedented damage caused by the COVID-19 pandemic in 2020, there are preliminary signs of recovery in the global labor market.
The latest data shows that there was a significant loss of working hours worldwide in 2020, which is equivalent to 255 million full-time jobs.
This is about four times the losses suffered during the 2009 global financial crisis.
This situation is mainly caused by unprecedented unemployment and people’s inability to work due to the epidemic.
In addition, the data show that global labor force income has fallen by 8.3%, accounting for 4.4% of global GDP.
Among them, women and young people are the most affected by the epidemic.
The report pointed out that the epidemic had an uneven impact on different sectors, and the situation of “K-shaped recovery” was deeply worrying. The sectors and groups most affected may lag behind the recovery, which will lead to increased inequality.
Industry-wise, the most affected are the accommodation and food services, with employment falling by more than 20% on average, followed by retail and manufacturing.
In contrast, employment in information and communication and finance and insurance increased in the second and third quarters of 2020. There has also been an increase in mining, quarrying and utilities.
Guy Ryder, Director-General of the International Labour Organization, stressed again that the recovery is full of uncertainty, and no country can recover alone.
He suggested that policymakers in various countries focus on people-centred concepts, fully considering employment, income and social protection, and build a sustainable and inclusive recovery path.