The International Labour Organisation(ILO), in its report, said the economic and labour crisis created by the Corona Virus, COVID-19, the pandemic could increase global unemployment by almost 25 million. ILO, however, noted that if an internationally coordinated policy response is put in place, as happened in the global financial crisis of 2008-2009, then the impact on global unemployment could be significantly much lower.
The labour organisation in a preliminary report titled “COVID-19 and the World of Work: Impacts and Responses, called for urgent, large-scale and coordinated measures across three pillars:
Protecting workers in the workplace,
Stimulating the economy and employment,
Supporting jobs and incomes
These measures include extending social protection, supporting employment retention, and financial and tax relief, including for micro, small and medium-sized enterprises, the report mentioned