Half a billion people faced with the risk to remain without money

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About 1.6 billion people who are employed in the informal sectors of the economy, because of the pandemic risk to remain without money, such forecasts gives the international labour organization (ILO) in its report.

More than 300 million people may remain without work, almost half of the global workforce. According to last estimates, it was assumed that the work will lose 195 million. However, the ILO has revised its Outlook for the worse. Now we are talking about the fact that until July of this year unemployed can be 305 million people.

The first month of the crisis has led to a reduction of 60 per cent of the income of the informal workers throughout the world. 81 percent fell income people in Africa and the Americas, at 21.6% in the Asia-Pacific region and 70 percent in Europe and Central Asia.

According to the ILO, worldwide more than 436 million enterprises face high risk of serious failures. Of them, 232 million are employed in trade, 111 million in the manufacturing industry, 51 million — in the hotel business and catering, 42 million — in real estate and other activities.

“For millions of workers lack of income means lack of food, security, future. Millions of companies around the world can hardly breathe. They have no savings or access to credit. If we don’t help them now, these companies just die,” said the ILO Director-General guy Ryder.

Unemployment in France increased in March by 7.1 percent, the biggest surge since the beginning of the account, i.e. since 1996. And in the US, experts are predicting record levels of unemployment after the pandemic, its magnitude can exceed the performance since the great depression.

Video, photo All from Russia.

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