The United Nations Economic and Social Commission for Western Asia (ESCWA) warned that the new Corona virus could cause the loss of more than 1.7 million jobs in the Arab World.
"ESCWA" expected that the gross domestic product of Arab countries will decline by at least 42 billion dollars this year due to the decline in oil prices and the repercussions of the epidemic.
It is likely that the loss of this large number of jobs during the current year will lead to an increase in the unemployment rate by up to 1.2 percentage points. Indicating that, contrary to the effects of the global financial crisis in 2008, employment opportunities in all sectors are expected to be affected.
ESCWA stated that the services sector, which is the main source of employment opportunities in the Arab region, will be the most exposed to the effects of imposing social separation.
The International Labor Organization has warned that the economic and labor crisis caused by the spread of Corona virus will have "far-reaching effects on the labor market."
Many countries, such as Tunisia, Egypt, Morocco and Jordan, rely heavily on the tourism sector to provide jobs and support all other economic sectors, which increases the repercussions of the suspension of flights and tourism.
Source (London Arab newspaper, Edited)
