[ad_1]
The United Nations Economic and Social Commission for Western Asia (ESCWA) has warned that the novel Corona virus could lead to the loss of more than 1.7 million jobs in the Arab world.
The committee expects “Arab countries’ gross domestic product to decline by at least $ 42 billion” this year amid falling oil prices and the implications of the novel Corona virus outbreak.
“The region is likely to lose more than 1.7 million jobs in 2020, with the unemployment rate increasing by 1.2 percentage points,” a report from the commission said.
The report adds that “unlike the effects of the 2008 global financial crisis, job opportunities are expected to be affected in all sectors.”
The committee stressed that “the service sector, which is the main source of employment opportunities in the Arab region, will be the sector most exposed to the effects of social distancing”.
On Wednesday, the International Labor Organization warned that the economic and labor crisis caused by the spread of the Corona virus, which has killed more than 8,000 people so far around the world, will “have far-reaching effects on the labor market “.
And the United Nations has announced that Covid-19 will lead to a significant increase in unemployment around the world, leave 25 million people unemployed and lead to lower incomes for workers.
Source link
