Tuesday, March 30, 2021

Blog: Developing countries introduced an unprecedented social protection and jobs policy response to mitigate the effects of the pandemic

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The COVID-19 crisis has led to massive job losses and labor market disruption in developing countries. Unlike the global financial crisis, both voluntary and mandated restrictions on mobility have directly affected labor markets. The scale of labor market disruption in developing countries has been massive. In its latest update, the ILO estimated a loss of 255 million full-time equivalent jobs in 2020 and projects the loss of 90 million (baseline) or 130 million (pessimistic scenario) full-time equivalent jobs in 2021. These numbers highlight the urgency of adopting and adapting labor market and... Read More