Wednesday, August 10 2022

Reuters

Nearly 5 million jobs lost in Ukraine as war pummels economy – ILO

Around 4.8 million jobs have been lost in Ukraine since the start of the Russian invasion in February, as the conflict shut down businesses, strangled exports and drove millions to flee, the International Labour Organisation (ILO) said on Wednesday. The job losses, which account for around 30% of Ukraine’s workforce before the invasion, could climb to 7 million if hostilities continue, the ILO said in a study, adding that 3.4 million jobs could return rapidly in the event of a ceasefire. The war could also drive up unemployment in neighbouring countries hosting millions of refugees and hit Central Asian economies as migrant workers in Russia lose their jobs and return home.

Source: Yahoo Sports

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