Generally, in jurisdictions, for a business or
In addition, relevant information on a
corporation to demonstrate that an event
country-by-country basis is given. Overall,
constitutes a force majeure event, it must:
the article gives a comprehensive view of the
Issue: The International Labor Organization assesses the possible impacts of COVID-19 on the
1. Demonstrate that performance is not
policy responses which are crucial to any
world of work and proposes a
SME attempting to endure this pandemic.
range of policy options to mitigate
possible or hindered under the event causing the circumstances. 2. The occurrence of the event is beyond the party’s control. 3. The event was not reasonably foreseeable at the time of the contract. 4. Has effects that cannot be avoided by
these impacts to facilitate a strong
I ssue : H ow (jr) schemes
can job retention
and swift recovery.
succeed and remain
effective in responding to the
Source: Int’l Lab. Org., COVID-19 and
employment fallout caused by the
the world of work: Impact and policy
COVID-19 pandemic?
responses (2020) [https://perma.cc/D4LY-
appropriate measures.
S25Y].
—————————————————
Source: Organisation for Econ. Co-
Workers/Heavily Impacted Sectors
operation & Dev., Job Retention Schemes
The International Labor Organization
During the COVID-19 Lockdown and
(ILO) considers the importance in protecting
—————————————————
Beyond (2020) [https://perma.cc/32MR-
workers’ health and providing economic
Issue: What
A54M].
support for the global labor work force
response should be
implemented by Small and Medium
Enterprises (SMEs) to combat the unique impact of COVID-19?
Annotation:
through coordinated and decisive policies Annotation:
and measures from the local level to the
Job retention schemes have been
global level for a rapid global economic
a main policy tool in OECD countries
recovery. Key policies that will mitigate
Source: Organisation for Econ.
to combat the economic impact of
the negative impact of COVID-19 on the
Co-operation & Dev., Coronavirus
COVID-19. JR schemes seek to preserve
global work force include: (1) establishing
(COVID-19): SME Policy Responses
jobs while countries are experiencing
international labor standards to provide a
(2020) [https://perma.cc/PHB7-2FYG].
reduced economic activity. The OECD
strong foundation for key policy response;
examines the effectiveness of these schemes
(2) focusing on health protection measures
through the first phase of the pandemic
and economic support on both the demand
where government restrictions limited
and supply side; (3) implementing proactive,
from the OECD, the ongoing influence of
economic activity. Restrictions are now
large-scale and integrated measures that
COVID-19 on SMEs is highlighted. SME’s
being withdrawn, and these schemes must
make strong and sustained impacts; and
size leaves them vulnerable to the pandemic’s
adjust to better target the jobs which are
(4) building confidence through trust and
effect on supply, demand, and downturns
currently at risk. The OECD gives their
dialogue for effective policy measures. The
in financial markets. The most current data
insight to how JR schemes can remain
ILO identifies three key elements to combat
shows the severe impact on these firms and
effective in this transition to a new, less
COVID-19 based on International Labor
estimates future effects. Policy responses
restrictive, phase of the pandemic.
Standards: (1) protecting workers in the
Annotation: In the latest SME-specific update
carried out around the world have taken
workplace by strengthening Occupational
countless forms due to the continuing
Safety and Health measures, adapting
extraordinary economic circumstances. The
flexible work arrangements, preventing
OECD breaks down each type of response
discrimination and exclusion related to
and gives detailed information on how
COVID-19, and expanding health benefits
specific countries have implemented them.
for all workers; (2) stimulating the economy 87
Currents 24.2 2021
