How to revive the labour market and avoid a North-South confrontation?

Notes & Quotes from the debate (click her)

By Luisa Ballin

Signs of a tentative economic recovery are emerging in the global labour market after the unprecedented disruption of the year 2020 due to the COVID-19 pandemic, according to the latest report of the International Labour Organization (ILO).

The new annual estimates in the seventh edition of the ILO Observatory: COVID-19 and the world of work confirm the terrible impact on the labour market in 2020. The latest figures show that, for the year as a whole, 8.8 per cent of the world’s working hours were lost (compared to the fourth quarter of 2019), equivalent to 255 million full-time jobs. This is about four times the number of hours lost during the 2009 global financial crisis, the ILO points out.

These lost hours include both the reduction in the number of hours worked by those who have a job, and the “unprecedented” level of job losses affecting 114 million people.

Therefore, how can we revive the labour market and avoid a confrontation between the countries of the North and the South?

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