Global unemployment set to exceed pre-COVID-19 levels going into 2023: report

Global unemployment is expected to remain above pre-pandemic levels until at least 2023, the International Labor Organization said in a report.

The number of jobless people is set to be 207 million in 2022, higher than 186 million recorded in 2019.

The report added that the actual effect on employment might be much larger as many people left the labor force.

The 2022 global participation rate is predicted to be 1.2 percent lower than that of 2019, the organization added.

The slump in 2022 forecasts could be attributed to the new COVID-19 variants and the uncertainty of the pandemic.

“There can be no real recovery from this pandemic without a broad-based labor market recovery. And to be sustainable, this recovery must be based on the principles of decent work – including health and safety, equity, social protection and social dialogue,” Guy Ryder, ILO Director-General, said.

The organization also forecasts working hours in 2022 to be lower than the 4Q 2019 level by the equivalent of 52 million full-time jobs. This is much higher than the previous estimate – made in May 2021 – of the equivalent to 26 million full-time jobs.

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.