Unemployment in the world is expected to remain above pre-crisis levels at least until the end of 2023. The International Labor Organization (ILO) reports.
The ILO has lowered its forecast for the recovery of the labour market in 2022 in the report «World Employment and Social Outlook Trends 2022». It notes that the state of global labor markets is still largely determined by the pandemic, and we should not expect them to recover quickly and surely. The lowered forecast is due to, among other things, the emergence of new strains of COVID-19 — Delta and Omicron — and significant uncertainty about the further development of the pandemic.
«The global shortfall in labor hours compared to the fourth quarter of 2019 would be equivalent to the loss of 52 million full-time jobs. The previous forecast had projected that number to be 26 million. For 2022, the number of unemployed is projected at 207 million, up from 186 million in 2019,» the report says.
The ILO also warns that the overall impact of the pandemic on employment is much more serious than the figures show. After all, many people have stopped working. In 2022, the global share of the economically active population is still projected to be 1.2 percent lower than in 2019.
