The International Labour Organisation (ILO) released its World Employment and Social Outlook – Trends 2022 (WESO Trends) report on January 17, 2022. The report analyses comprehensive labour market projections for 2022 and 2023 and assesses how labour market recovery has unfolded worldwide. In the WESO 2022, ILO has downgraded its forecast for labour market recovery in 2022.
Key figures in WESO Trends 2022
- The global unemployment level in 2022 is estimated at 207 million, compared to 186 million in 2019.
- The total hours worked in 2022 will be 8% below the 2019 level, means there is a deficit of 52 million full-time equivalent jobs, on an assumption of 48-hour working week.
- The global labour force participation rate, the number of people in work or seeking employment is projected to be 59.3% in 2022 which is 1.2 percentage points below 2019 level.
- In 2022 around 40 million people will no longer be participating in the global labour force.
ILO states that there can be no real recovery from this pandemic without a broad-based labour market recovery.
