ILO says COVID-19 has cost workers globally about $3.8 trillion in lost wages

Workers have lost a lot to tie COVID-19, according to statistics provided by the labor organization. In their monthly review, it is estimated that global workers lost trillions in unclaimed wages.

Global workers lost trillions to COVID-19—ILO

The International Labor Congress has said that employees have lost a lot in earnings due to the COVID-19 pandemic. This economic blow according to ILO is worth a little below $4 trillion.

The ILO said women and young employees might be hit because of job losses, wage slash, and low working hours. The organization also said that the hospitality and leisure sectors are the worst hit and may be left behind when everything settles. It warned that there seems to be a looming inequality level among workers after COVID-19.

This Swiss-based commission encouraged nations to take quick and tough decisions to help those who lost their jobs. In its yearly analysis of the worldwide jobs market, it said 9% of job hours were lost in 2020 as against 2019. When aggregated, this totaled to about 260 m jobs globally.

Results show that workers suffer more last year than in two decades

These statistics show that it is five times worse than the 2008 economic crisis. These “ huge employment losses” lead to about 8. 6% decline in Labour wages globally. The research further said that women have been more affected than their male counterparts by these interruptions in the employment market, as research shows that women are more likely to leave their jobs to look for new ones.

However, the ILO said things are set to be normalized with the coronavirus vaccine being released. But the economic effects of the COVID-19 all lead to 4% of job hours in 2021. The ILO advises people to be ready for this economic impact and find other avenues to generate income. It also admonishes financial firms to increase loans and make them more accessible to people.

Exploring The Popularity And Mechanics Of Mini-Games In Online Casinos

The digital universe of online casinos offers a treasure trove of entertainment that extends far beyond the traditional realm of slots and table games. Among the myriad attractions, mini-games have surged in popularity, capturing the hearts of casual and serious players alike. These bite-sized offe... Read more

Privacy and Security in Mobile Betting Applications - A Comprehensive Guide

In today's increasingly digital world, the realm of betting has also made its transition to mobile platforms. However, this advancement brings with it various concerns regarding privacy and security. For any user who ventures into the world of mobile betting applications, understanding these risks... Read more

What do you need to know about automated trading robots?

In the ever-changing world of finance, automated trading robots have become key players. These sophisticated software programs use algorithms to carry out buying and selling operations autonomously, without direct human intervention. Here's how these automated trading robots work, and how they can i... Read more

Exploring the Future of Online Gambling: Free Spins and Large Payouts

The future of online gambling promises to be an exciting one, with innovative developments transforming the digital landscape. The industry is witnessing a surge in free spins and large payouts, making casino games more engaging and lucrative for players worldwide. This further boosts the popularit... Read more

What are the best bitcoin casinos?

The number of bitcoin casinos on the internet is growing day by day, but even so, there are still some of the best. So, with these casinos, one can enjoy the best gambling conditions and all the benefits that come with it. So, what are the best bitcoin casinos? Read this article to know more about t... Read more

What are the best strategies for winning in the aviator 1xbet game?

Among the many online casinos that offer fun from home is the aviator game which has been able to seduce the web. It is a very popular game and quite different from slots where paylines exist. What strategy can you use to win the aviator game at 1xbet? Can using the martingale strategy promise succe... Read more

Top 3 reasons to cycle in France

France is a beautiful country that attracts many travellers through its tourist attractions. It is one of the destinations you can choose if you want to spend a wonderful holiday in Europe. However, to make the most of your days off in this country, it is important to opt for a cycling holiday. In t... Read more

What games are available at Ice Casino ?

Ice casino is undoubtedly one of the best online casinos available on the Canadian market. It has a well-stocked game library that should satisfy all players. Between slot machines, video slots, table games, discover all the games available at Ice Casino. Slot machines Although the concept of slot m... Read more

inDriver: the new jewel of carpooling in Melbourne

Ridesharing is without a doubt one of the most important aspects of public transportation and it is developing in an exceptional way. A multitude of behemoths offer services related to this aspect of transportation. inDriver is one of them and is characterized by its innovative focus. This entity ha... Read more