Search
Close this search box.
Search
Close this search box.

Global Unemployment to Reach 207 Million in 2022: ILO

worker

A return to pre-pandemic global labor market performance seems unlikely in the coming years for much of the world, according to the International Labour Organization (ILO). According to the UN agency’s report, World Economic and Social Outlook – Trends 2022, global total hours worked this year would be over 2% lower than pre-pandemic levels, resulting in a deficit of 52 million full-time equivalent employment.

According to the estimate, worldwide unemployment would reach 207 million in 2022, surpassing the current level by 21 million. “While this figure is a significant improvement over 2021, when hours worked adjusted for population growth fell below their level in the fourth quarter of 2019 by the equivalent of 125 million full-time jobs (assuming a 48-hour work week), it remains exceptionally high,” according to the ILO research.

According to the ILO, full recovery will be difficult to achieve in all regions — Africa, the Americas, Arab States, Asia and the Pacific, and Europe and Central Asia – with the European and Pacific regions coming closest. Latin America, the Caribbean, and Southeast Asia have the most bleak economic prospects.

“Developing countries that rely on exports of labor-intensive goods or commodities have had a particularly difficult time adjusting to fluctuating demand caused by pandemic-related fluctuations in economic development.” Border restrictions and missed income are wreaking havoc on tourism-dependent economies, according to the report.

The lack of social security plans in developing economies has added to the financial stress caused by reduced revenues as a result of job loss and reduced working hours. It has repercussions in terms of health and nutrition. According to the estimate, 30 million more adults will be living in extreme poverty in 2020 due to a lack of paid job. Inflation has severely lowered discretionary income as a result of the slow and unpredictable recovery in global labor markets, adding to the cost of the crisis.

Apart from this, you can also read EntertainmentTech, and Health-related articles here: SmallPDFDramacoolSquid Game Season 2Joe Biden net worthCrackstreamThe Matrix 4GokuKung Fu Panda 4Leonardo DiCaprio net worthDiabolik Lovers Season 3Twitch Error 2000Alyson HanniganBrent Rivera net worthEmma Watson net worth444 angel number666 angel number1616 angel number777 angel number333 angel numberDave Portnoy net worthMessi net worthKeanu Reeves net worthThe Equalizer 3The 100 Season 8Gina Carano net worthBruno Mars net worthKissAnimeJim Carrey net worthPDF DriveYoutbeBailey Sarian Net WorthBollyshareAfdahMoviezwapY8JalshamoviezProject Free TVKissasianMangagoJio RockersM4uHDHip dipsM4ufreeNBAstreams XYZCCleaner Browser reviewAvocado CaloriesBear Grylls net worthHighest Paid CEOThe 100 season 8Sundar Pichai net worthGrimes net worth, and, F95Zone.


Subscribe to Our Newsletter

Related Articles

Top Trending

Netflix Rust Creek Top 5 US
Rust Creek: Netflix's Sleeper Hit Survival Thriller in US Top 5
A True Relationship Is Two Imperfect People Refusi - Tymoff
A True Relationship Is Two Imperfect People Refusi - Tymoff
Hanuman Jayanti 2024
Hanuman Jayanti 2024: 80+ Wishes, Quotes and Messages to Share
Google Gemini Boost Speed on Android Devices
Google Gemini Set to Boost Speed on Android Devices!
armitage hobbit firing fears revealed
"I Didn't Even Unpack": Armitage Reveals The Hobbit Firing Fear

LIFESTYLE

Most Expensive Handbags for Women in the World
Elegance Redefined: 10 Most Expensive Handbags for Women in the World
Gift Ideas for Men
10 Thoughtful and Unique Gift Ideas for Men Who Have Everything
pohela boishakh 2024
Pohela Boishakh: Celebrating Bengali Culture and Heritage Festivities
Korean Beauty Secrets
10 Korean Beauty Secrets for Youthful Energy: Stay Young & Vibrant
Ancient Philosophers Guide to Happiness
Unlocking Happiness: Timeless Lessons from Ancient Philosophers

Entertainment

Netflix Rust Creek Top 5 US
Rust Creek: Netflix's Sleeper Hit Survival Thriller in US Top 5
armitage hobbit firing fears revealed
"I Didn't Even Unpack": Armitage Reveals The Hobbit Firing Fear
LiL Baby Net Worth 2024
Lil Baby Net Worth 2024: A Comprehensive Look At The Rapper's Financial Success
The 1982 Movie Poltergeist Used Real Skeletons As - Tymoff
The 1982 Movie Poltergeist Used Real Skeletons As - Tymoff
Mult34
The World of Mult34 for Hentai Manga, and Adult Cartoons [User Review]

GAMING

unblocked games 67
How to Play Unblocked Games 67 Without Blocking Your Network [Gamer's Review]
F95zone
F95Zone: A Hub for Adult Games, Comics, and Community Interaction in 2024
Jojoy Minecraft
My Experience With Jojoy Minecraft in 2024 [Image Guide and Tips]
Mobile Sports Betting Apps in the US
The Surge of Mobile Sports Betting Apps in the US, Benefits and Drawbacks
Pokemon Go Updates Avatars Maps Photos
Pokemon Go Update: New Changes to Avatars, Map, Photos & More

BUSINESS

Analysts Chase Top Delivery Stock
Analysts Scramble to Keep Pace with Leading Delivery Stock
Tesla Hacked
Tesla Disbands New Marketing Team Just Months After Formation: Report
World Richest Families
Power and Wealth: Top 10 World's Richest Families in 2024
Optimize Sales and Improve Employee Morale
How To Optimize Sales and Improve Employee Morale in Your Business
netflix profit boost password sharing crackdown
Netflix's Profits Soar Amid Password Sharing Crackdown

TECHNOLOGY

Google Gemini Boost Speed on Android Devices
Google Gemini Set to Boost Speed on Android Devices!
Mona Lisa Raps in Viral AI Video
Mona Lisa Raps in Viral AI Video: Microsoft's VASA-1 Stuns!
pdfdrive
How PDF Drive Became My Go-To Resource for Free EBooks and Documents [User Review]
OpenAI
OpenAI Expands to India: Welcomes Pragya Misra as First Employee
OpenAI Responds Elon Musk Revisionist
OpenAI Responds to Elon Musk's 'Revisionist History' Accusations

HEALTH

Intermittent Fasting
Unlocking the Power of Intermittent Fasting: Expert Tips Revealed
disease x
Disease X: Scientists Predict Virus Could Spark Next Global Pandemic
A Comprehensive Experience with Dr. Aravind Bhateja
A Comprehensive Experience at Sparsh Hospital in Bangalore with Dr. Aravind Bhateja
why veterans choose Out of Town Rehab
Finding Freedom: Why Veterans Should Opt for Out-of-Town Rehab?
Rock Hudson Last Days
Rock Hudson's Last Days: The Untold Story of His Final Moments