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COVID-19 leads to US$ 3.5 tril. plunge in global labor income during first 3 quarters of 2020: ILO Updated: 2020-09-24 07:00:37 KST

Global labor income declined by 3.5 trillion U.S. dollars during the first three quarters of 2020, due to the COVID-19 pandemic.
The International Labor Organization says it's down 10.7 percent compared to the same period last year.
It noted that a loss in working hours in many countries attributed to such a massive drop, adding that developing and emerging economies were hit the hardest as many of those in informal employment no longer had work.
The international body forecast a 8.6 percent on-year drop in global working hour losses in the fourth quarter.
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