Coronavirus may make 25 million jobless, workers to lose $3.4 trillion in income: United Nations
Coronavirus in Times Square
The COVID-19 pandemic will significantly increase global unemployment, pushing up to nearly 25 million more people out of work, the United Nations said on Wednesday.
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"The economic and labour crisis created by the COVID-19 pandemic could increase global unemployment by almost 25 million," the International Labour Organisation said as it released a fresh study.
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It added however that an internationally coordinated policy response could "significantly lower" that number.
The COVID-19 pandemic will push millions more into unemployment, underemployment and working poverty, the United Nations said on Wednesday, warning that workers globally stood to lose up to $3.4 trillion in income this year alone.
"Falls in employment... mean large income losses for workers," the International Labour Organisation said, releasing a report showing workers stand to lose between $860 billion and $3.4 trillion by the end of 2020.