ILO: COVID-19 can affect livelihood of 4.6 to 10.3 million workers in Vietnam
(VOVWORLD) - The International Labor Organization released a report entitled COVID-19 and the labor market in Viet Nam. The report pointed out that by the end of the second quarter the pandemic can affect the livelihood of 4.6 to 10.3 million workers, whether through a decline in working hours, in wages or, ultimately, job loss.
According to the ILO,Vietnam has addressed the COVID-19 health crisis with resolve and strength, and with an aim at leaving no one behind.
The report suggested the same approach needs to be directed at economic, social and labor market challenges. It said this is a critical time to ensure that socioeconomic policy response is designed to be inclusive, is based on tripartite consultations, and reach the most vulnerable on the labor market.
Out of this difficult time, an opportunity is emerging for Viet Nam: to build the foundations of a more inclusive growth path, which leaves no one behind once recovery begins, the IL report concludes.
According to the ILO, the crisis will cut total hours worked worldwide by 6.7% in the second quarter of this year, equivalent to the loss of 195 million full-time jobs. The world is forecast to lose 25 million jobs in all.