World Employment and Social Outlook Report released
The International Labour Organisation (ILO) released its
report titled “World Employment and Social Outlook”.
In the report, ILO has
projected global unemployment of 207 million in 2022.
Global unemployment will reach to 207 million in 2022.
almost 21 million more than 2019.
Total hours worked in 2022 will be about 2% below than the
There will be deficiency of 52 million full-time equivalent
jobs in 2022.
The 2022 outlook represents a substantial deterioration as
compared to outlook in June 2021.
In June 2021, shortfall in working hours
relative to fourth quarter of 2019 was projected to decrease to less than 1% in
According to ILO, every new covid-19 outbreak brings setbacks.
Many gains in decent work prior to pandemic have been significantly impacted
Pre-existing decent work deficits are decreasing the prospects of
sustainable recovery across several regions.
As per ILO report, since the onset of recovery, employment
growth trends in low-income and middle-income countries have remained below to
trends in richer economies because of lower vaccination rates and tighter
fiscal space in developing countries.
Developing nations experienced a higher level of inequality,
weaker social protection systems and more divergent working conditions.
Projections to 2023, for all regions, suggests that a full
recovery will remain elusive.
All regions are likely to face severe downside
risks in their labour market recovery because of ongoing impact of the
ILO is a United Nations agency, that advances social and
economic justice by setting international labour standards, established
in October 1919, under the League of Nations.
It is the first and oldest
specialised agency of the UN having187 member states.