Global unemployment to stand at 207 million in 2022

Ground Report | New Delhi: Global unemployment in 2022; The International Labor Organization forecasts global unemployment to be 207 million in 2022, about 21 million more than in 2019, while total hours worked in 2022 are about 2% below their pre-pandemic levels, or 52 million full-time equivalent jobs.

Global unemployment in 2022

According to the report ‘World Employment and Social Outlook – Trend 2022’ released by ILO, the projected reduction in working hours during 2022 is equivalent to 52 million full-time jobs, the same as in the fourth quarter of 2019. If we look at the figures related to 2021, then this year the reduction in working hours was equal to about 26 million full-time jobs.

In its latest report on world employment, the ILO said, “This outlook represents a significant decline from projections made in June 2021, when the reduction in working hours relative to the fourth quarter of 2019 is expected to be reduced to less than 1% in 2022.” was estimated.” and Social Outlook, released Monday.

However, according to the report, the situation is likely to improve as compared to 2021. Despite this, work time (in hours) is projected to be 2 percent lower in 2022 than pre-pandemic. This clearly shows that still, the employment situation will take more time to improve. The ILO believes that this state of unemployment at a global level may not reach pre-pandemic levels until at least 2023.

It is worth noting that the figure for the unemployed, which was 18.6 crores in 2019, has reached 224 crores in 2020. After some improvement in 2021, it had reached 214 crores. It is estimated that this figure will reach 207 crores in 2022 and 203 crores in 2023. Similarly, if we talk about the unemployment rate globally, it was 5.4 percent in 2019, which increased to 6.6 percent in 2020. The ILO estimates that this rate will reach 6.2 percent in 2021, while it is likely to be 5.9 percent in 2022 and 5.7 percent in 2023.

Covid epidemic cannot be overcome

“For all sectors, projections for 2023 suggest that a full recovery will remain elusive. All sectors face serious downside risks to their labor market reforms that stem from the ongoing impact of the pandemic,” it said. said.

According to the report, this expectation of a decline in the forecast for 2022 is also partly due to the recent variants of Covid-19 like Delta and Omicron. Which reflects the uncertainty surrounding the pandemic in the future, along with the impact on their employment.

In this regard, ILO Director-General Guy Ryder is of the opinion that “this epidemic cannot be overcome without comprehensive reforms in the labor market. Furthermore, in order for these reforms to last forever, they must be based on the principles of better work.” Which means it should include health, safety, equality, social security, and social dialogue.”

The study highlights the marked differences in the effects of the crisis between groups of workers and between countries and affirms that these differences exacerbate inequalities both within and between countries, in addition to weakening the economic, financial, and social fabric of almost all nations, regardless of their level of development.

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