Some 4.8 million jobs have been lost in Ukraine since the Russian-led invasion began in February, as the war closed businesses, reduced exports and displaced millions, the International Labor Organization (ILO) said on Wednesday. , according to Reuters.
Job losses, which account for about 30 percent of Ukraine’s workforce before the invasion, could rise to 7 million if hostilities continue, the ILO said in a study, adding that 3.4 million jobs could return quickly in the event of a ceasefire.
The war could also boost unemployment in neighboring countries hosting millions of refugees and hit Central Asia’s economies, as migrant workers in Russia lose their jobs and return home.
Russian forces have pounded Ukrainian cities in a war that has killed thousands, forced more than 5 million people – mostly women, children and the elderly – to emigrate and could shrink Ukraine’s economy by at least a third in 2022.
“Economic turmoil, combined with heavy internal migration and refugee flows, is causing large-scale losses in terms of employment and income,” the report said.
“Russian aggression in Ukraine has led to a catastrophic humanitarian crisis, causing the rapid displacement of populations since World War II,” it added.
Neighboring countries such as Poland and Romania have absorbed most of the refugees, of which an estimated 1.2 million. worked before the invasion.
A protracted conflict will put constant pressure on labor markets and welfare systems in these countries, likely leading to rising unemployment, the study said.
“In a hypothetical scenario, adding these refugees to the number of unemployed would increase the unemployment rate in Poland from 3% to 5.3%,” it said.
The war could also have secondary effects in Central Asian countries, which are heavily dependent on remittances sent by migrants working to Russia.
Globally, the war in Ukraine is exacerbating rising food and energy prices, threatening jobs and rising real wages, especially in low- and middle-income countries still recovering from the coronavirus pandemic, the ILO said. .
Source: Capital
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