The global labor market will take longer than previously thought to recover, with unemployment levels above pre-pandemic levels until at least 2023 due to uncertainty over the course and duration of the pandemic, the ILO said. Labor) in a report this Monday (17).
The UN agency estimates the equivalent of about 52 million fewer jobs in 2022 compared to pre-Covid-19 levels, which is about double the previous June 2021 estimate.
The disruptions are likely to continue into 2023, when there will still be about 27 million fewer jobs, the ILO said, warning of a “slow and uncertain” recovery in its 2022 World Employment and Social Outlook report.
“Global labor market prospects have deteriorated since the latest ILO projections; a return to pre-pandemic performance is likely to remain elusive for much of the world for years to come,” the report said.
ILO Director-General Guy Ryder told reporters that there are several factors behind his review, saying that “the main one is the ongoing pandemic and its variants, particularly the omicron”.
Overall, around 207 million people are estimated to be unemployed in 2022. However, the report said the impact will be significantly greater as many people have left the workforce and have not yet returned.
Still, the shortfall in working hours projected for this year represents an improvement over the last two years. In 2021, according to the ILO, there were about 125 million fewer jobs than pre-pandemic levels and in 2020, 258 million fewer.
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