Covid-19 will wipe out 2.5 crore jobs: ILO (March 18)

Covid-19: 2.5 crore jobs will disappear - ILO (March 18)

A preliminary estimate by the International Labour Organization (ILO) says about 2.5 crore jobs will disappear as a result of Covid-19. The impact of Covid will be far-reaching: crores will lose their jobs, full-time workers will become part-time workers, and many workers will fall into extreme poverty. The situation is extremely serious. The ILO said countries must take a coordinated approach and draw up plans to protect workers.

The world's monopoly companies are also in crisis. Hotel chains, airlines and motor companies are all in great difficulty because of Covid-19. What is notable is that governments and central banks have stepped in to protect them. The US central bank, the Federal Reserve, has already pumped one and a half trillion dollars into the market for this.

The contradiction is that nowhere here is there a word about plans to protect workers.