HomeNewsWorldGlobal labour market 'uncertain', no return to pre-pandemic levels in 2020: ILO

Global labour market 'uncertain', no return to pre-pandemic levels in 2020: ILO

In its latest report, the UN labour agency said that the fall in global working hours was "significantly worse than previously estimated" in the first half of the year, with the Americas the hardest-hit region.

June 30, 2020 / 20:35 IST
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The outlook for the global labour market in the second half of 2020 is "highly uncertain" and the forecast recovery will not be enough for employment to return to pre-pandemic levels this year, the International Labour Organization said on Tuesday.

In its latest report, the UN labour agency said that the fall in global working hours was "significantly worse than previously estimated" in the first half of the year, with the Americas the hardest-hit region.

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An estimated 14 percent of working hours were lost in the second quarter, equivalent to 400 million full-time jobs, due to the pandemic, the ILO said.

For the fourth quarter, the ILO estimated that 4.9 percent of working hours or 140 million jobs would be lost. Under a pessimistic scenario in a so-called second wave of the pandemic, this figure could rise to 11.9 percent or 340 million jobs, it said.

COVID-19 Vaccine
Frequently Asked Questions

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How does a vaccine work?

A vaccine works by mimicking a natural infection. A vaccine not only induces immune response to protect people from any future COVID-19 infection, but also helps quickly build herd immunity to put an end to the pandemic. Herd immunity occurs when a sufficient percentage of a population becomes immune to a disease, making the spread of disease from person to person unlikely. The good news is that SARS-CoV-2 virus has been fairly stable, which increases the viability of a vaccine.

How many types of vaccines are there?

There are broadly four types of vaccine — one, a vaccine based on the whole virus (this could be either inactivated, or an attenuated [weakened] virus vaccine); two, a non-replicating viral vector vaccine that uses a benign virus as vector that carries the antigen of SARS-CoV; three, nucleic-acid vaccines that have genetic material like DNA and RNA of antigens like spike protein given to a person, helping human cells decode genetic material and produce the vaccine; and four, protein subunit vaccine wherein the recombinant proteins of SARS-COV-2 along with an adjuvant (booster) is given as a vaccine.

What does it take to develop a vaccine of this kind?

Vaccine development is a long, complex process. Unlike drugs that are given to people with a diseased, vaccines are given to healthy people and also vulnerable sections such as children, pregnant women and the elderly. So rigorous tests are compulsory. History says that the fastest time it took to develop a vaccine is five years, but it usually takes double or sometimes triple that time.
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