Answer:

International Labor Organization (ILO) estimated that globally more than 25 million jobs would be threatened due to the spread of corona virus. It is estimated that four out of five people (81%) in the global workforce of 3.3 billion are CURRENTLY affected by full or partial workplace closure. The US, UK, Canada and most of the European and Asian countries have begun to register huge job losses leading to significant rise in unemployment rate. The ILO in its report ‘ILO Monitor 2nd edition: COVID-19 and the world of work’, describes COVID-19 as ‘worst global crisis since World War II’. The head of the International Monetary Fund (IMF) Kristalina Georgieva said the world faced the worst economic crisis since the Great Depression of the 1930s. There are high CONCERNS for low-paid and low skilled informal WORKERS in low and middle income countries, where the industries and services have high proportion of such informal workers, who account for 61% of the global workforce or 2 billion people and they LACK any social protection. This sudden loss of LIVELIHOOD would be horrifying for them.