Pandemic to Postpone Recovery of Global Labor Market Until 2023
The new ILO report “World Employment and Social Outlook”, published on the organization’s website, projects that, this year, on the global level, 207 million people will be without a job, which is nearly 21 million more than in 2019, before the outbreak of the pandemic.
The overall number of working hours in 2022 will be nearly 2% below the pre-pandemic level, which is equivalent to a number of 52 million full-time jobs.
It is estimated that the global unemployment rate in 2022 would be 5.9%, whereas last year it was 6.2%. Previously, in 2020, the unemployment rate in the world was 6.6%, and in 2019 it was 5.4%.
It is added that the return of dignified work to the pre-pandemic levels will most likely remain unattainable for the majority of the world in the upcoming years.
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