Coronavirus is not only a crisis of the present. Unfortunately, it is also a crisis for our near future, and maybe not-so-near future, and its damages are already being felt.

Public health systems and other public services and administrative bodies in several Member States are reaching (or have already reached) a breaking point, and millions of jobs and businesses are already being affected around the world.

The labour markets are being profoundly hit by this invisible threat, while the public services are also reaching the limits of their capacities, and alleviating actions are of utmost urgency.

The International Labour Organisation (ILO) has already released preliminary assessments on the first effects of the coronavirus on the labour markets and the daunting scenarios of what is yet to come. ILO preliminary estimates see a growth in unemployment between 5.3 million jobs (low scenario) to 24.7 million (high scenario)[1], which would also translate in a GDP growth drop between 2% and 8% respectively[2].

The sectors most affected are the services sector, tourism, travel and retail[3]. Furthermore, certain groups of workers are more vulnerable to economic shocks, needing more targeted policy measures for their protection.

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