ILO: Reduces its expectations for labour market recovery

The International Labour Organization (ILO) has released its report entitled “World Employment and Social Outlook Trends 2022.”

 

ILO warns of a slow and uncertain recovery, as the pandemic continues to have a significant impact on global labour markets. The International Labour Organization (ILO) has downgraded its forecast for labour market recovery in 2022, projecting a deficit in hours worked globally equivalent to 52 million full-time jobs, relative to the fourth quarter of 2019.

 

Global unemployment is expected to remain above pre-COVID-19 levels until at least 2023. The 2022 level is estimated at 207 million, compared to 186 million in 2019.

 

The disproportionate impact of the crisis on women’s employment is expected to last in the coming years, the report says. While the closing of education and training institutions “will have cascading long-term implications” for young people, particularly those without internet access.

 

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