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The International Labor Organization predicts an increase in the number of unemployed by 21 million people

Business and Finance / Digest

The damage to labor markets from the pandemic may become irreversible. Today, there is an alarming rise in poverty and inequality. Many workers have to switch to new forms of work.

The International Labor Organization predicts an increase in the number of unemployed by 21 million people

In 2022, the number of unemployed in the world will grow to 207 million, which is 21 million more than in the pre-crisis 2019. This is stated in the new report of the International Labor Organization (ILO).

“Global unemployment is expected to remain above pre-pandemic levels until at least 2023,” the authors of the new report say. In 2019, 186 million people could not find a job, and today - 207 million.

The ILO notes that earlier, more optimistic forecasts for a labor market recovery have not materialized due to the impact of the spread of recent variants of COVID-19, such as Delta and Omicron, as well as uncertainty about how the virus will behave in the future.

Global unemployment is expected to remain above pre-crisis levels until at least the end of 2023.

“The crisis has been going on for two years now, but the outlook remains uncertain and the recovery remains sluggish and fragile,” said ILO Director-General Guy Ryder.

He fears that the damage to labor markets from the pandemic may become irreversible. Today there is an alarming Rising poverty and inequality. Many workers have to switch to new forms of work - for example, a protracted decline in international tourism is forcing them to do so.

The effects of the pandemic on labor markets are being felt in all regions of the world, although the pace of recovery varies everywhere. The most encouraging signs of a resurgence are in Europe and North America, while the least encouraging are in Southeast Asia, Latin America and the Caribbean.

The disproportionate impact of the pandemic has been on women's employment and will continue to be felt over the coming years. The closure of educational and vocational institutions will have severe long-term consequences for young people.

“Without a comprehensive recovery of the labor market, the consequences of the pandemic cannot be fully overcome,” the head of the ILO stressed. According to him, a sustainable recovery can only be achieved on the basis of the principles of decent work, including labor protection, equality, social protection and social dialogue.

The report contains comprehensive job market forecasts for 2022 and 2023. It assesses the progress of the recovery of the world labor market, describes the approaches of different countries to the issue of recovery from the pandemic, analyzes its consequences for various categories of workers and sectors of the economy.

Experts note that in some cases, as in previous crises, temporary employment plays the role of a shock absorber in a pandemic. During the crisis, many temporary jobs were closed, but at the same time others were created, including for those who lost their permanent jobs. On average, the number of temporary workers remained unchanged.

The Global Employment and Social Protection Outlook report makes recommendations to ensure a inclusive and people-centred recovery from the crisis, both nationally and internationally.

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