Business Desk :
Covid-19 outbreak caused 4.5 percent decline in working hours in the first quarter of 2020. The situation would be worse in the current quarter
Asian Development Bank (ADB) using ILO now casting model, has estimated, 10.5 percent decline in working hours globally. Which means 305 million full time workers, who used to work 48 hours a week.
To mitigate the effect of Covid-19, government adopted lockdowns, travel restrictions, social distancing, and workplace and school closures policies. The goal was to contain the spreading of the virus. However, these policies made a quite impact on the labor market.
Covid-19 hit harder in Europe and America region. The employment reduction is also visible with a bigger magnitude in these regions. Around 12.4 percent working hours would be declined in the second quarter in America and 11.8 percent in Europe. Both regions would experience more than global average.
Asia and Pacific experienced the highest declined in 1st quarter with 6.5 percent. Where global average was 4.5 percent. In the 2nd quarter 10 percent working hours would be declined from the region.
Covid-19 outbreak caused 4.5 percent decline in working hours in the first quarter of 2020. The situation would be worse in the current quarter
Asian Development Bank (ADB) using ILO now casting model, has estimated, 10.5 percent decline in working hours globally. Which means 305 million full time workers, who used to work 48 hours a week.
To mitigate the effect of Covid-19, government adopted lockdowns, travel restrictions, social distancing, and workplace and school closures policies. The goal was to contain the spreading of the virus. However, these policies made a quite impact on the labor market.
Covid-19 hit harder in Europe and America region. The employment reduction is also visible with a bigger magnitude in these regions. Around 12.4 percent working hours would be declined in the second quarter in America and 11.8 percent in Europe. Both regions would experience more than global average.
Asia and Pacific experienced the highest declined in 1st quarter with 6.5 percent. Where global average was 4.5 percent. In the 2nd quarter 10 percent working hours would be declined from the region.
