The International Labour Organisation has painted a scary picture of the effects of the novel coronavirus on the labour market.
Guy Ryder, Director General of ILO said on CNN that up to 24.7 million jobs could be lost globally owing to the effects of Covid-19.
He said the figure is not a prediction but an estimate of what may happen with the sweeping effects of the virus across many countries.
Indeed, many countries are under lockdown with businesses shut, especially services as restaurants, theatres and even sporting arenas.
On the international market, crude oil today plunged to $22 per barrel while Brent came down to $25.88, the lowest since 2002.