This young man is sad that the loss of hundreds of millions of jobs around the world could become a “blocked generation.”

Recently, according tomedia reports, the United Nations issued a policy brief on the 2019 coronavirus pandemic and the labor world, pointed out that the 2019 coronavirus pandemic has brought about a dramatic change in the labor world. Hundreds of millions of jobs have been lost, many small and medium-sized enterprises as engines of the global economy may not survive, and young people may even become “the blocked generation”.

The briefing noted that vulnerable groups were particularly affected by the new crown: workers, young people, women, persons with disabilities, refugees and migrants in the informal economy. Young women in particular are disproportionately affected. Previous experience has shown that the lower income and skill levels of affected young people throughout their careers have led to the possibility of a “blocked generation”.

Developing and vulnerable economies are the least able to cope with the crisis because of the high level of informality of the economy and the lack of adequate financial capacity to ensure access to social security for all.

The report also lists some data:

By mid-May, 94% of the world’s workers were in the country where some workplace closures had been taken.

A significant loss of work time (equivalent to 305 million full-time jobs) is expected in the second quarter of this year.

38 per cent of the global workforce (equivalent to 1.25 billion workers) is employed in high-risk economic sectors, including food and hotels, retail and wholesale, business services and management, and manufacturing.

Nearly one in five young people have lost their jobs since the start of the new coronavirus epidemic. Those who are still working have a 23% reduction in working hours. Forty per cent of young people are employed in high-risk sectors.

In the first month of the crisis alone, the incomes of workers in the informal economy fell by 60 per cent.

Women are disproportionately employed in the most affected sectors, such as services, hospitality, tourism and nursing (60-70 per cent of caregivers are women).

Highly labour-intensive sectors are most at risk, including food and hotels (144 million workers);

Agriculture is expected to be severely delayed, as many workers are already poor, lack social protection and engage in informal work.

Small and medium-sized enterprises (SMEs) are the backbone of the global economy, but many small and medium-sized enterprises do not have enough resilience or resources to deal with the crisis and may not be able to recover from the crisis, resulting in a second wave of unemployment.