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LATEST NEWS UPDATES | 6.1 million youth may lose jobs in India due to Covid-19: ADB-ILO report -Indivjal Dhasmana

6.1 million youth may lose jobs in India due to Covid-19: ADB-ILO report -Indivjal Dhasmana

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published Published on Aug 19, 2020   modified Modified on Aug 19, 2020

-Business Standard

Unemployment rate in the country will rise to a staggering 32.5 per cent, but will be higher in Sri Lanka at 37.8 per cent

As many as 6.1 million young people (15-24 years) may lose jobs in India in 2020 if the containment of the virus takes six months (roughly till September), says a report by Asian Development Bank (ADB) and International Labour Organisation (ILO).

India will be followed by Pakisan, which will see 2.3 million youth losing jobs, said the report, titled 'Tackling the Covid-19 youth employment crisis in Asia and the Pacific', released on Tuesday.

Overall, 14.8 million younsters will suffer job cuts in 13 countries in the region.

The unemployment rate in India will rise to as much as 32.5 per cent, but it will be higher in Sri Lanka, at 37.8 per cent.

Construction and farm sector workers account for the majority of job losses, according to the report.

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Business Standard, 19 August, 2020, https://www.business-standard.com/article/economy-policy/6-1-million-youth-may-lose-jobs-in-india-due-to-covid-19-adb-ilo-report-120081801418_1.html


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