Global unemployment to reach 207 million in 2022: ILO report

Updated: Jan 20 2022 8:08PM

Geneva, Jan 20 (PTI) Global unemployment is expected to remain above pre-COVID-19 levels until at least 2023 and is estimated at 207 million this year, almost 21 million more than in 2019, according to a report from the International Labour Organisation that gives assessments on how labour market recovery has unfolded worldwide.

The Geneva-based United Nations agency 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. The previous full-year estimate in May 2021 projected a deficit of 26 million full-time equivalent jobs.

While this latest projection is an improvement on the situation in 2021, it remains almost two per cent below the number of global hours worked pre-pandemic, according to the ILO World Employment and Social Outlook – Trends 2022 report.