World Employment and Social Outlook

International labour organisation has published a report about world employment called the “World Employment and Social Outlook”. In this report, the international labour organisation covers facts about the rate and number of employees in the world. It also provides the number of total hours worked and compares it to the hours in the previous years.

World Employment and Social Outlook

The international labour organisation released this year’s “World Employment and Social Outlook” and the key findings of the year 2022 are-

i) The unemployed number is going to hit 207 million by the end of 2022. The unemployment in 2019 was 21 million less compared to this year.

ii) The total number of hours worked this year is almost 2% less than the number worked before the pandemic.

iii) There will be a cut of 52 million full-time jobs in 2022.

Comparison with previous year outlook

The outlook of 2022 was a depreciation compared to the outlook of June 2021. For the June 2021 outlook, there was a downfall of working hours by a fourth of a quarter compared to 2019 which is furthermore to decrease by a more 1% in 2022.

Impact of covid

After every new wave of covid, there is a further effect on employment in the world. The International labour organisation says that every new wave in covid will bring more setbacks and all the gains in previous years have been severely impacted by the pandemic. The prospects of recovery from this setback in some parts of the world also do not look promising.

Projections of 2023

According to the international labour organisation, full recovery by 2023 might not be possible for many regions. All regions are at a risk of facing massive downsides in the labour market because there is a high impact of this pandemic.

International labour organisation ( ILO)

The international labour organisation is a united nations agency that deals with social and economic justice between international labour standards. International labour organisation was established in October 1919 under the league of nations. It is the oldest agency in the United Nations. ILO has 187 member states with 186 being amongst the 193 UN member states. The headquarters are in Geneva, Switzerland. It also has 40 different field offices around the world. The objectives of International labour organisation are-

i) To promote the standard and fundamental rights of workers

ii) To create more opportunities for employment for men and women

iii) To provide social protection and to increase the coverage for it for all,

iv) To strengthen tripartism.

Regional difference

It is estimated that 40 million people will no longer be able to participate in the global labour force in the year 2022. The impact of covid has been harmful to everyone, especially worse for certain regions. Many low and middle-class countries can not afford vaccines and have a very limited scope to expand their budget during this crisis.

Conclusion

The world has been highly affected because of the global pandemic and with every new variant or new wave, the world is furthermore affected. Around 207 million people are out of work and for the world to fully recover from this pandemic is going to take more time, especially in the backward countries.