Impact Of COVID-19 On Global Employment, Informal Economy & Enterprises
Full or partial lockdown measures due to COVID-19 pandemic are now affecting almost 2.7 billion workers, representing around 81% of the world’s workforce, while the International Labour Organization (ILO) provides an estimated indication of global unemployment impact at 305M jobs, approximately 10.5% of global workforce.
In Vietnam, ILO estimates that by the end of the second quarter, COVID-19 can affect the livelihood of 4.6 to 10.3 million Vietnamese workers, whether through a decline in working hours, in wages or job loss. According to the Ministry of Labor, Invalids and Social Affairs, in February, 47,164 people applied for unemployment insurance, an increase of 59.2% compared to January and an increase of 70% over the same period last year.