40 crore Indians may sink into poverty: ILO

United Nations, April 8

About 40 crore people working in the informal economy in India are at risk of falling deeper into poverty due to the Covid-19 crisis which is having “catastrophic consequences”, and is expected to wipe out 19.5 crore full-time jobs or 6.7 per cent of working hours globally in the second quarter of this year, the UN’s labour body has warned.

Edit: Spectre of poverty

The International Labour Organisation (ILO) in its report ‘ILO Monitor 2nd edition: COVID-19 and the world of work’ describes the pandemic as “the worst global crisis since World War II”.

“Workers and businesses are facing catastrophe, in both developed and developing economies. We have to move fast, decisively, and together,” ILO Director-General Guy Ryder said.

Worldwide, 200 crore people work in the informal sector and are particularly at risk, the report said. “In India, with a share of almost 90 per cent of people working in the informal economy, about 400m (40 crore) workers in the informal economy are at risk of falling deeper into poverty during the crisis. Current lockdown measures have impacted these workers significantly, forcing many of them to return to rural areas,” it said. — PTI

81% workforce hit

• As per ILO’s report, 19.5 crore full-time jobs would be wiped out globally due to pandemic
• More than four out of five persons (81%) in the global workforce of 330 crore are affected by closures, the report said