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Coronavirus

UN Says Coronavirus Pandemic Created an “Unparalleled” Employment Crisis

UNITED NATIONS — The International Labor Organization says the COVID-19 pandemic has created an “unparalleled” global labor market crisis that will affect the job market for years.

The U.N. agency said in a report Wednesday an estimated 8.8% of total working hours were lost last year. It says that is “the equivalent of the hours worked in one year by 255 million full-time workers.”

The Geneva-based agency estimates that if there had not been a pandemic, the world would have created 30 million new jobs in 2020.

It says that this year, working hours lost corresponded to 140 million full-time jobs in the first quarter and 127 million in the current quarter.

The agency projects that an uneven economic recovery expected to begin in the second half of 2021 will create 100 million jobs this year and an additional 80 million in 2022. It says that is still short of pre-pandemic levels.

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