The International Labour Organisation (ILO) has recently publicized a comprehensive report titled World Employment and Social Outlook – Trends (WESO Trends) 2022. The report, however, portrays a fragile outlook due to the uncertain future trajectory of the ongoing pandemic. The WESO Trends report incorporates detailed labor market projections for the years 2022 and 2023, providing assessments of the unfolding worldwide labour market recovery.
Unemployment Trend
According to the report, global unemployment is predicted to surpass pre-Covid-19 levels until at least 2023. The unemployment levels in 2022 are estimated at 207 million, compared to 186 million in 2019.
Change in Global Working Hours
In 2022, global working hours are expected to be almost 2% below their pre-pandemic level, equivalent to the loss of 52 million full-time jobs. This deficit is twice as large as the ILO’s forecast in 2021.
Global Labour Force Participation
It is projected that around 40 million people will cease participating in the global labour force in 2022.
Regional Differences
The pandemic’s impact has been most severely felt by developing nations that were already grappling with higher levels of inequality, divergent working conditions, and weaker social protection systems. Many low and middle-income countries face the challenge of limited vaccine accessibility and constrained government budgets to tackle the crisis.
Starkly Different Impacts
The report alerts about stark differences in the impact of the crisis across various worker groups and nations, causing an exacerbation of inequalities both within and among countries.
Different Sectors Impact
Certain sectors, such as travel and tourism, have been disproportionately affected; meanwhile, others, like the information technology sector, have flourished during the pandemic.
Impact on Women and Young Population
Women have been more adversely affected by the labour market crisis than men, a trend expected to persist. The ongoing closure of educational and training institutions will pose long-term implications for young individuals, particularly those lacking internet access.
Expected Recovery
The report implies that a comprehensive labour market recovery is integral for a genuine recovery from this pandemic. A sustainable recovery, anchored in the principles of decent work, health & safety, equity, social protection, and social dialogue, is deemed possible.
About International Labour Organisation
Established in 1919, ILO as a part of the Treaty of Versailles post World War I, was founded on the belief that universal and lasting peace can only be achieved based on social justice. In 1946, it became a specialized agency of the United Nations. ILO is unique as it brings together representatives of governments, employers and workers in its executive bodies. With 187 member states, India is a founding member of ILO and assumed the Chairmanship of the Governing Body of ILO in 2020. The organization is headquartered in Geneva, Switzerland. The Nobel Peace Prize was awarded to ILO in 1969 for promoting fraternity and peace among nations, advocating for decent work and justice for workers and offering technical assistance to other developing nations.
