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    Price of the epidemic: As if Serbia lost HALF A MILLION job posts

    The coronavirus pandemic has mostly affected micro-enterprises in Serbia and it has led to a reduction in working hours during the second quarter of 2020, which is equivalent to the loss of 510,000 full-time jobs, according to a report by the EBRD and the International Labour Organization.

    However, by offering „the most generous and comprehensive economic package among the economies of the Western Balkans“, the Serbian government successfully curbed „the spread of poverty“, according to a new report by the European Bank for Reconstruction and Development (EBRD) and the International Labour Organization (ILO).

    After the introduction of strict public health measures and the consequential decline in economic activity, working hours in Serbia decreased by about 14.8 percent during the second quarter of 2020. Shorter working hours and allowances have significantly contributed to this reduction.

    If the health crisis continues and employment retention programs cease, people could be pushed into unemployment, the study warns.

    The report identifies sectors in which more than 700,000 workers are at immediate risk while the health crisis continues: wholesale, retail, accommodation, transport, services, forestry and logging, crop and livestock production.

    Of this workforce, nearly 314,000 are self-employed, and there are more than 267,000 informal workers. To date, the crisis has hit micro enterprises hardest, which employ more than 735,000 people, with at least one in four workers losing their jobs.

    Izvor: N1

    Foto: BIZLife

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