1.6bn
As part of our special feature on development, job creation and economic transformation in the face of COVID-19, we speak with Mito Tsukamoto, Chief of the Development and Investment Department of the International Labour Organization (ILO).
T
Estimated global decline in earnings for informal workers in first month of the crisis:
60% 10
INFORMAL ECONOMY WORKERS “SIGNIFICANTLY IMPACTED”
he challenges of the informal economy, where we find the most vulnerable employees, enterprises, and own-account workers, were already significant before COVID-19.
And now with COVID-19, almost 1.6 billion informal economy workers (out of a total of 2 billion) are significantly impacted by lockdown measures and / or they work in some of the hardest-hit sectors (wholesale and retail; accommodation and food services; manufacturing; real estate, business and administrative activities). We estimate that earnings for informal workers will decline in the first month of the crisis by 60 percent, globally. This is likely to have lasting effects on inequality and poverty that we need to address now. Many developing countries, but especially the least developed ones, have very little or no fiscal space to implement measures to alleviate some of the existing structural problems that impede inclusive growth. Also, they have the weakest health and social protection systems, feeble or non-existent national and local institutions, and have very little ‘wiggle room’ to deal with emergency calls on their resources. The only hope they may have is that development partners, donors and agencies
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47
