Question

how to create more employment during covid 19





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Answer 1

Answer:

As a result of the economic crisis created by the pandemic, almost 1.6 billion informal economy workers (representing the most vulnerable in the labour market), out of a worldwide total of two billion and a global workforce of 3.3 billion, have suffered massive damage to their capacity to earn a living. This is due to lockdown measures and/or because they work in the hardest-hit sectors.

The first month of the crisis is estimated to have resulted in a drop of 60 per cent in the income of informal workers globally. This translates into a drop of 81 per cent in Africa and the Americas, 21.6 per cent in Asia and the Pacific, and 70 per cent in Europe and Central Asia.

Without alternative income sources, these workers and their families will have no means to survive.

Enterprises at risk

The proportion of workers living in countries under recommended or required workplace closures has decreased from 81 to 68 per cent over the last two weeks. The decline from the previous estimate of 81 per cent in the second edition of the monitor (published April 7) is primarily a result of changes in China; elsewhere workplace closure measures have increased.

Worldwide, more than 436 million enterprises face high risks of serious disruption. These enterprises are operating in the hardest-hit economic sectors, including some 232 million in wholesale and retail, 111 million in manufacturing, 51 million in accommodation and food services, and 42 million in real estate and other business activities.

Explanation:

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Answer 2

Answer:

COVID-19 is the most serious health crisis

the world has experienced in a century—and it could also be one of the biggest destroyers of jobs in human history. That matters greatly: when people are stripped of their work, they suffer losses not just of income but also of dignity, meaning, and hope.

The International Labour Organization has forecast that the pandemic could reduce global working hours by nearly 7 percent in the second quarter of 2020—equivalent to 195 million full-time jobs.1 McKinsey’s analysis suggests that, in regions as diverse as Africa, Europe, and the United States, up to a third of the workforce is vulnerable to reduced income, furloughs, or layoffs as a result of the crisis. Many millions of jobs could be lost permanently. That, in turn, would greatly dampen consumer spending, with knock-on effects across economies.

Even in countries in which laid-off workers receive protection through unemployment insurance or wage subsidies, there will be many informal workers who fall through the safety net—and the social and psychological toll of joblessness will be widely felt. Indeed, there is a serious danger that the loss of work will disproportionately affect those who can least afford it, including lower-wage earners and small enterprises.

Leaders in the public, private, and social sectors are already taking urgent steps to manage the fast-evolving crisis of jobs and work. But we believe there is room—and need—for greater focus, speed, boldness, and innovation in this effort. Our worldwide research on emerging strategies and best practices suggests that governments and their partners need to take urgent action in the following two key areas:

• Create a granular view of who needs help to keep their job—or find new work. Countries, regions, and cities can quickly develop a granular view of where jobs are at risk and where there is additional demand for labor—by sector, occupation, demographics, and geography. That view needs to put special focus on small businesses and the most vulnerable workers, including those in the gig economy and the informal sector.

• Build smart, cross-sector solutions to get that help to them fast. As governments prepare to reopen economies postlockdown, they need to find smart ways to maximize employment and protect against new infections, following global guidelines and those of their local public-health agencies. Again, special focus will be needed on restarting and supporting small businesses, which account for the majority of jobs in most countries. At the same time, governments and businesses will need to create new mechanisms to help people whose jobs are at risk redeploy into occupations in which labor demand still outstrips supply—and rapidly build the skills needed for their new roles.

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