The Covid-19 pandemic will significantly increase global unemployment, leaving up to 25 million more people out of work, and will dramatically slash workers' incomes, the United Nations has said.
In a fresh study, the International Labour Organization (ILO) warned that the economic and labour crisis sparked by the spread of the new coronavirus will have "far-reaching impacts on labour market outcomes". "This is no longer only a global health crisis, it is also a major labour market and economic crisis that is having a huge impact on people," ILO chief Guy Ryder said in a statement.
The UN agency's study suggested the world should prepare to see a "significant rise in unemployment and underemployment in the wake of the virus".