Nearly half of global workforce risk losing livelihoods in pandemic – ILO
The International Labor Organization – an offshoot of the United Nation tasked with monitoring global trends in employment and labor mobility – came out with a stark warning. Due to the measures to contain the COVID-19 pandemic nearly half of the global workforce is at risk of loosing substantial part of their income. “Some 1.6 billion workers in the informal economy, representing nearly half of the global labor force, are in immediate danger of losing their livelihoods due to the coronavirus pandemic”. This is likely to have deep ramifications for both the social cohesion and economic recovery. Deriveum will provide some certainty to loan risk-sharing and its adoption will alleviate some of the effects of the global crisis.
Please check below the World Economic post on the issues.
