We haven’t seen such a crisis since the Great Depression. This fact only, speak on how much the COVID-19 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. And, they should use all tools they have in hands to provide it for the most vulnerable, while working to reconstruct better labour markets.