Economic Collapse

Increasing Global Economic Collapse and Distress of Nations: ‘Job catastrophe’: 1.25 (5×5) billion workers (36% (6×6)) face major hit from coronavirus

Revelation 13:16-17 And he causeth all, both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads: And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name.

1 Thessalonians 5:3 For when they shall say, Peace and safety; then sudden destruction cometh upon them, as travail upon a woman with child; and they shall not escape.

Increasing Global Economic Collapse and Distress of Nations: ‘Job catastrophe’: 1.25 (5×5) billion workers (36% (6×6)) face major hit from coronavirus

By Natalie Huet and Oliver Whitfield-Miocic  •  last updated: 08/04/2020 Euronews

https://www.euronews.com/2020/04/08/job-catastrophe-1-25-billion-workers-face-major-hit-from-coronavirus?jwsource=twi

https://www.euronews.com/2020/04/08/job-catastrophe-1-25-billion-workers-face-major-hit-from-coronavirus?jwsource=cl

The coronavirus crisis is having a devastating effect on employment worldwide, with more than one billion workers at risk of a pay cut or losing their jobs, according to the International Labour Organization.

The UN agency says the pandemic is bound to prove a lot more damaging to the labour market than the global recession a decade ago.

“In 2008-2009 we lost something like 22 million jobs around the world. Our forecast for the next three months, for the second quarter of the year, is that we are going to lose the equivalent of 195 million jobs around the world,” ILO Director-General Guy Ryder told Euronews in an interview.

“So this is a complete job catastrophe. But I suppose in a world where four out of every five workers are living in countries under total or partial lockdown, it shouldn’t come as a total surprise that we’re in this territory.”

Coronavirus-related lockdowns and travel restrictions are now affecting almost 2.7 billion workers worldwide, around 80 (8) percent of the global workforcethe agency said in a new report.

Among them, 1.25 billion – over 36 (6×6) percent of the global workforce — are especially vulnerable. They work in hotels, restaurants, retail and manufacturing, sectors which have seen “drastic” falls in output.

The Americas and Europe have the highest share of workers in these high-risk sectors and are more exposed to a labour market shock, but they also enjoy higher social protection coverage, according to the report. Worldwide, 2 billion people work in the informal sector, mainly in developing economies, which puts them particularly at risk.

“No international coordination”

Ryder urged countries to take steps to support their economies and keep people in work. A number of governments have already announced massive stimulus packages to support ailing companies and convince them to retain their workers despite the crisis.

“We need to see fiscal stimulus put into the economy. We need to see the type of accommodating monetary policy that can keep the economy going, and we’ve seen some pretty dramatic initiatives country by country,” he said.

France and Germany have both encouraged partial unemployment schemes, which get companies to reduce working hours instead of cutting jobs, and see the government compensate workers for the difference in their wages.

The European Commission has pledged to support such initiatives, throwing out its rule book on budget deficit rules and promising to raise up to 100 billion euros to help the bloc’s workers.

But the EU has so far failed to agree on the issue of so-called “coronabonds”, which would pool borrowing among member states to fight the crisis.

“I think the shortcoming (…) is that there is no international coordination. We’re not really seeing a pan-European approach to these problems, and still less are we seeing it at the world level,” Ryder said.

The future of work?

For now, the COVID-19 pandemic has upended businesses around the world, and lockdowns have forced companies and administrations to switch to remote working almost overnight. For workers, many of them stuck at home with their children to look after, it’s been a real shock to the system.

Asked if this crisis might irreversibly change how we work, however, the ILO’s chief offered a cautious perspective.

“I think we’re all surprising ourselves, aren’t we – the extent to which we’re capable of working digitally and remotely. I think really the question is not if it’s technologically possible, but is this how we really want to work,” he said.

“I’m not sure everybody really wants to work in that way. Work is a social thing (…) I don’t think we should jump to the conclusion that just because it’s possible, it’s necessarily desirable.”

Jesus Christ’s Offer of Salvation:

The ABCs of Salvation through Jesus Christ (the Lamb)

A. Admit/Acknowledge/Accept that you are sinner. Ask God’s forgiveness and repent of your sins.

. . . “For all have sinned, and come short of the glory of God.” (Romans 3:23).

. . . “As it is written, There is none righteous, no, not one.” (Romans 3:10).

. . . “If we say that we have no sin, we deceive ourselves, and the truth is not in us.” (1 John 1:8).

B. Believe Jesus is Lord. Believe that Jesus Christ is who He claimed to be; that He was both fully God and fully man and that we are saved through His death, burial, and resurrection. Put your trust in Him as your only hope of salvation. Become a son or daughter of God by receiving Christ.

. . . “That whosoever believeth in him should not perish, but have eternal life. For God so loved the world, that he gave his only begotten Son, that whosoever believeth in him should not perish, but have everlasting life. For God sent not his son into the world to condemn the world; but that the world through him might be saved. (John 3:15-17). For whosoever shall call upon the name of the Lord shall be saved.” (Romans 10:13).

C. Call upon His name, Confess with your heart and with your lips that Jesus is your Lord and Savior.

. . . “That if thou shalt confess with thy mouth the Lord Jesus, and shalt believe in thine heart that God hath raised him from the dead, thou shalt be saved. For with the heart man believeth unto righteousness; and with the mouth confession is made unto salvation.” (Romans 10:9-10).

. . . “If we say that we have no sin, we deceive ourselves, and the truth is not in us. If we confess our sins, he is faithful and just to forgive us our sins, and to cleanse us from all unrighteousness. If we say that we have not sinned, we make him a liar, and his word is not in us.” (John 1:8-10).

. . . “And he is the propitiation for our sins: and not for ours only, but also for the sins of the whole world. (John 2:2).

. . . “In this was manifested the love of god toward us, because that God sent his only begotten Son into the world, that we might live through him. And we have seen and do testify that the Father sent the Son to be the Saviour of the world. Whosoever shall confess that Jesus is the Son of God, God dwelleth in him, and he in God.” (1 John 4:9, 14-15).

. . . “But God commendeth his love toward us, in that, while we were yet sinners, Christ died for us. Much more then, being now justified by his blood, we shall be saved from wrath through him. For if, when we were enemies, we were reconciled to God by the death of his Son, much more, being reconciled, we shall be saved by his life.” (Romans 5:8-10).

. . . “For the wages of sin is death; but the gift of God is eternal life through Jesus Christ our Lord.” (Romans 6:23).

. . . “Jesus saith unto them, I am the way, the truth, and the life, no man cometh unto the Father, but by me.” (John 14:6).

. . . “For I am not ashamed of the gospel of Christ: for it is the power of God unto salvation to everyone that believeth.” (Romans 1:16).

. . . “Neither is there salvation in any other: for there is none other name under heaven given among men, whereby we must be saved.” (Acts: 4:12).

. . . “Who will have all men to be saved, and to come unto the knowledge of the truth for there is one God, and one mediator between God and men, the man Christ Jesus.” (1 Timothy 2:4-6).

. . . “For God did not appoint us to suffer wrath but to receive salvation through our Lord Jesus Christ.” (1 Thessalonians 5:9).

. . . “But as many as received him, to them gave the power to become the sons of God, even to them that believe on his name.” (John 1:12).

True Church / Bride of Christ Spared from God’s Wrath:

 Romans 5:8-10. “But God commendeth his love toward us, in that, while we were yet sinners, Christ died for us. Much more then, being now justified by his blood, we shall be saved from wrath through him. For if, when we were enemies, we were reconciled to God by the death of his Son, much more, being reconciled, we shall be saved by his life.”

Romans 12:19Dearly beloved, avenge not yourselves, but rather give place unto wrath: for it is written, Vengeance is mine; I will repay, saith the Lord.

1 Thessalonians 1:10. And to wait for his Son from heaven, whom he raised from the dead, even Jesus, which delivered us from the wrath to come.

1 Thessalonians 5:9. For God hath not appointed us to wrath, but to obtain salvation by our Lord Jesus Christ,

Romans 8:35. Who shall separate us from the love of Christ? shall tribulation, or distress, or persecution, or famine, or nakedness, or peril, or sword?

Jeremiah 30:7. Alas! for that day is great, so that none is like it: it is even the time of Jacob’s trouble, but he shall be saved out of it.

Revelation 3:10 Because thou hast kept the word of my patience, I also will keep thee from the hour of temptation, which shall come upon all the world, to try them that dwell upon the earth.

Categories: Economic Collapse

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