We haven’t seen such a crisis since the Great Depression. This fact only, speak on how much the COVID-19 crisis has impacted our world. Poverty and an inequality ever more widen are the more important danger that may rise from the pandemic. There is also a real risk that those may be felt for the years to come. It is not only important, but a must for countries to use everything in their power to stop this jobs crisis from turning into a social crisis. The solution is to reconstruct a better and more strong labour market. it is an intrinsic investment that has to be done in order to avoid more poverty and inequality.
Due to the COVID-19 breakout millions of people haven’t been able to go to work, what has led to a collapse in activity and therefore an unprecedented job loss.
Unemployment is forecasted to be at 10% in OECD countries by the ned of 2020, and to reach the 12% if second pandemic wave hit. Only after 2021 that job recovery are to expected. Which speak volume on the impact of the crisis.
The jobs crisis is hitting some workers harder:
- Young people that are facing a tough job market
- Women and low-paid workers are more likely to face greater unemployment
- Part-time, temporary and self-employed workers are those who suffer the most from the crisis.
Hopefully, countries have provided an exceptional level of support throughout COVID-19 era. And, they should use all tools they have in hands to provide it for the most vulnerable, while working to reconstruct better labour markets.
