As a result of the economic crisis created by the COVID-19 pandemic, 1.6 billion workers in the informal economy (nearly half of the global workforce) have suffered massive damage to their capacity to earn a living. Without alternative income sources, these workers and their families will have no means to survive, says the International Labour Organization (ILO).
Due to the prolongation and extension of lockdown measures, the drop in working hours in the current quarter of 2020 is expected to be significantly worse than previously estimated.
Worldwide, more than 436 million enterprises face high risks of serious disruption. These enterprises are operating in the hardest-hit economic sectors (wholesale and retail, manufacturing, accommodation and food services, real estate and other business activities).
The ILO calls for urgent, targeted and flexible measures to support workers and businesses, particularly smaller enterprises, those in the informal economy and others who are vulnerable.
“For millions of workers, no income means no food, no security and no future. [...] As the pandemic and the jobs crisis evolve, the need to protect the most vulnerable becomes even more urgent." warns Guy Ryder, ILO Director-General.