Coronavirus may make 25 mn jobless, workers to lose $3.4 trn in income: UN

The COVID-19 pandemic will significantly increase global unemployment, pushing up to nearly 25 million more people out of work, the United Nations said on Wednesday.

"The economic and labour crisis created by the COVID-19 pandemic could increase global unemployment by almost 25 million," the International Labour Organisation said as it released a fresh study.

It added however that an internationally coordinated policy response could "significantly lower" that number.

The COVID-19 pandemic will push millions more into unemployment, underemployment and working poverty, the United Nations said on Wednesday, warning that workers globally stood to lose up to $3.4 trillion in income this year alone.

"Falls in employment... mean large income losses for workers," the International Labour Organisation said, releasing a report showing workers stand to lose between $860 billion and $3.4 trillion by the end of 2020.