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1/17, 12:24 PM (Source: TeleTrader)
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ILO: Global unemployment expected to remain the same until 2023

The International Labor Organization (ILO) released on Monday its World Employment and Social Outlook Trends 2022 report, predicting that global unemployment will stay above pre-pandemic levels.

According to the report published on its official website, although the figures are an improvement compared to 2021, the agency expects global unemployment to remain above pre-pandemic levels until at least 2023. The 2022 level is estimated at 207 million, up from 186 million in 2019. Besides, the global labor force participation rate is also projected to stay 1.2 percentage points lower than in 2019.

"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," said Guy Ryder, ILO Director-General.

Baha Breaking News (BBN) / JG