May 27, 2020 | 2:42 pm
The International Labor Organization (ILO) estimates that America will suffer the brunt of the estimated loss of 305 million jobs that the COVID-19 pandemic will cause worldwide between April and June.
Likewise, young people are the main victims of the economic cataclysm caused by the pandemic of the new coronavirus and one in six under the age of 29 and of working age is unemployed, the agency warned.
In the case of those who kept their jobs, they saw their working day decrease 23% on average.
In his presentation of the report to the press, the CEO of the ILOGuy Ryder urged governments to pay special attention to this “generation of confinement” to avoid the crisis affecting him in the long term.
The impact of the restriction measures will cause for the “confined generation” that it takes them at least 10 years to catch up with the labor market, the agency said on Wednesday.
“Young people will simply be left behind and in large numbers,” he predicted. “The danger is that this initial impact for young people will last a decade or more. It will affect the (work) trajectory… throughout their working life ”.
The ILO report maintains its forecast for job losses during the second quarter, calculated in terms of hours of work compared to a pre-pandemic baseline, unchanged from the one it provided last month.
America went from being the least affected region in terms of the labor market in the first quarter to being the hardest hit, with an expected drop of 13.1% in working hours in the second, Guy Ryder said.
The change was due to the continent becoming the new epicenter of the COVID-19 outbreak.
The organization also highlighted particular problems in the United States and Brazil.
It is “worrying” that the US job market remains “difficult” while other countries that reduce closings have begun to see modest recoveries, said the director of the ILO Employment Policy Department, Sangheon Lee.
In Brazil, there are “good reasons to be concerned about both the trajectory of the pandemic and the ability to implement the right kind of (labor) measures to react,” Ryder said.
The ILO increased its estimate of job losses in the first quarter by 7 million to 135 million.
Youth unemployment in Mexico
Labor informality, the end of the year hiring season and the Young People Building the Future program are the elements that contributed to a drop in the youth unemployment rate in Mexico since November of last year.
Data from the Organization for Economic Cooperation and Development (OECD) reveal that in the penultimate month of 2019, the unemployment rate among young Mexicans (people between the ages of 15 and 24) fell to 7.1%, from 7.9% in October.
With information from . and .