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No recovery in global jobs market from pandemic until at least 2023 - ILO

Economic IndicatorsJun 02, 2021 07:28AM ET
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© Reuters. FILE PHOTO: Job seekers stand outside a construction site ahead of the release of the unemployement numbers by Statistics South Africa, in Eikenhof, south of Johannesburg, South Africa, June 23, 2020. REUTERS/Siphiwe Sibeko/File Photo

By Stephanie Nebehay

GENEVA (Reuters) - At least 220 million people are expected to remain unemployed globally this year, well above pre-pandemic levels, with a weak labour market recovery exacerbating existing inequalities, the International Labour Organization (ILO) said on Wednesday.

The United Nations agency forecast the outlook improving to 205 million unemployed next year - still well above the 187 million recorded in 2019 before the coronavirus crisis wreaked havoc.

According to ILO models, that equates to a global unemployment rate of 6.3% this year, falling to 5.7% next year but still up on the pre-pandemic rate of 5.4% in 2019.

"Employment growth will be insufficient to make up for the losses suffered until at least 2023," the ILO said in a report, World Employment and Social Outlook: Trends 2021.

Stefan Kuehn, ILO economist and lead author of the report, told Reuters that the true impact on the labour market was even greater when reduced working hours imposed on many workers and other factors were accounted for.

All told, it estimated that working hours losses in 2020 relative to 2019 amounted to the equivalent of 144 million full-time jobs in 2020, a shortfall that still stood at 127 million in the second quarter of this year.

"Unemployment does not capture the impact on the labour market," Kuehn said, noting that whereas hiring in the United States had resumed after massive job losses, many workers elsewhere, particularly in Europe, remained on reduced-hours schemes.

Women, young people and the 2 billion people working in informal sectors have been hardest hit, with 108 million more workers worldwide now categorized as poor or extremely poor compared to 2019, it said.

"Five years of progress towards the eradication of working poverty have been undone," the report said.

No recovery in global jobs market from pandemic until at least 2023 - ILO
 

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Comments (2)
Steve Lora
Steve Lora Jun 02, 2021 8:37AM ET
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My wife was offered 8 different teaching jobs. They were in several school districts. She applied to them out of college 20 yrs ago and they never even sent her a letter saying "we recieved your resume.." nothing. The schools that call her now, back then were only hiring blacks(aka diversity).. She just took another private tutoring jub, $26 per hour. But yes, she enjoyed getting back at affirmative black action. Yes, there are many jobs in every field
Anthony Cloud
Anthony Cloud Jun 02, 2021 7:35AM ET
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There are jobs but people dont want to work when they can get a free ride from the government.
Pratt Man
Pratt Man Jun 02, 2021 7:35AM ET
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There is no data to support that. and Canada and Europe have the same problem but they don't have enhanced unemployment.
 
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