The loss of working hours in 2021 due to the coronavirus disease pandemic is expected to be significantly higher than estimated, the International Labor Organization reported Friday, Oct. 29.
These figures, the organization added, represent a dramatic revision of its June projection of 3.5 percent or 100 million full-time jobs. According to Ryder, this “great divergence” is largely driven by the major differences in the roll-out of vaccinations and fiscal stimulus packages. “Globally, losses in hours worked — in the absence of any vaccines — would have stood at 6.0 percent in the second quarter of 2021, rather than the 4.8 percent actually recorded,” it said.
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