ILO says 300 million people could lose their jobs due to COVID-19

According to RIA Novosti, the new forecast says that more than 300 million people may lose their jobs by July of this year.

At the same time, the organization emphasizes that 1.6 billion people employed in the informal sectors of the economy will lose their livelihood due to quarantine measures in connection with COVID-19.

According to ILO estimates, worldwide over 436 million enterprises face high risks of serious malfunctions.

This is the third report of the organization on this topic. On March 18, the ILO made a forecast stating that up to 25 million people might lose their jobs due to a pandemic; on April 7, an updated report talked about 195 million.