Global employment will not return to pre-pandemic levels until at least 2023, according to a report from the International Labour Organization. This year, there will be 52 million fewer hours worked, which is the equivalent of 52 million full-time jobs (ILO).
Hours worked around the world are expected to be 2% less than they were before COVID-19, according to the ILO’s 2022 outlook released on Monday.
Unemployment around the world is also expected to stay well above pre-pandemic levels. In 2022, 207 million people will be out of work, up from 186 million in 2019.
Unemployment around the world is expected to fall to 5.9 percent in 2022, down from 6.2 percent last year and 6.6 percent in 2020, but still above 5.4 percent in 2019.
As the Delta and Omicron coronavirus variants came out and there was still uncertainty about how the pandemic would progress, the UN agency said it had to lower its forecast for the year. This is why.
There was a “slow and uncertain” way to get back to work, says Guy Ryder, the head of the International Labour Organization, which is called the ILO.
A press release with the report said that “potentially long-term damage to the labour market is already taking place, and poverty and inequality are rising.”
Many people are having to change jobs because of the long-term slump in international travel and tourism.
As Ryder said, “There can’t be real recovery from this pandemic until there is a broad-based job market recovery.” In order for this recovery to last, it needs to be based on the principles of decent work, like health and safety and fairness, as well as equity, social protection, and social talks.
Emerging economies haven’t recovered as quickly as their more developed counterparts, according to an ILO report. Inequalities are “amplifying and prolonging the negative effects of the crisis,” it said.
In the report, the labour markets in North America and Europe showed the strongest signs of recovery. The report also said that the labour markets in Southeast Asia, Latin America, and the Caribbean were the worst off.