ILO: no global jobs recovery this year

UN labour agency the ILO has downgraded its forecast for a global recovery in jobs this year. Instead it is projecting a deficit in hours worked globally equivalent to 52 million full-time jobs, relative to the fourth quarter of 2019. The previous full-year estimate in May 2021 projected a deficit of 26 million full-time equivalent jobs. The agency now expects global unemployment to remain above pre-Covid-19 levels until at least 2023.

“Two years into this crisis, the outlook remains fragile and the path to recovery is slow and uncertain,” said ILO director-general, Guy Ryder.

“There can be no real recovery from this pandemic without a broad-based labour market recovery. And to be sustainable, this recovery must be based on the principles of decent work – including health and safety, equity, social protection and social dialogue.”

https://www.ilo.org/global/research/global-reports/weso/trends2022/WCMS_834081/lang--en/index.htm