The COVID-19 pandemic is pushing the world towards a massive global recession with devastating consequences. The ILO estimates working hours lost to be the equivalent of more than 495 million jobs, with trillions of dollars in lost income in the past six months and the livelihoods of 1.5 billion people in the informal economy
threatened. The impact of the pandemic on many economic sectors and regions is evident as millions of businesses close permanently, and more than 300,000 seafarers are trapped working aboard vessels.

The socio-economic impacts on women are especially severe. Women are disproportionately represented in low-paying and less secure jobs as well as in informal work. Young people face an ever-bleaker future, with disrupted education and training and low prospects of finding a job. Millions of migrant workers, trapped in exploitative work and most often excluded from social protection and government support, are facing destitution.