In it Latest updates on the world of workThe International Labor Organization’s director general, Guy Ryder, said that although there had been “expected signs of recovery in the final months of last year, with global employment returning to higher levels in countries around the world”. industry”, rising food and fuel prices and financial instability destabilized the job market.
The impact of these issues “will beis developing and may turn into social and political deviance”, Mr. Ryder emphasized.
Global supply chain disruptions were also made worse by the war in Ukraine, ILO The head continued, noting that the full impact of the Russian invasion is hard to focus on for months – although the conflict has affected the labor market in Ukraine and beyond.
“To a large extent this nascent labor market recovery has stalled or reversed,” Mr. Ryder told journalists in Geneva.
Job Gap
“In some cases, recovery is struggling. For example, in the last quarter of 2021, we saw a significant increase in working hours globally. But in the first quarter of 2022, the hours fell again; it has decreased significantly. ”
According to the ILO, there are 112 million fewer full-time jobs today than there were before the pandemic.
Less industrialized economies suffered a setback in the first quarter of the year with full-time employment available falling between 3.6 and 5.7 percent, compared with pre-crisis levels.
These diverging trends are likely to worsen in the second quarter of 2022, the ILO said, noting that some developing countries constrained by tough fiscal rules and high repayment requirements that the Secretary-General of the United Nations has affirmed the need for reform for a just global recovery.
Other key findings from the United Nations labor agency highlight that many workers are still suffering the effects of labor Coronavirus pandemic, more than two years after it began.
Salary: New normal
The ILO monitoring of the World of Work also found that for the most part, income has not recovered yetand in 2021, three in five workers live in countries where their wages are still below what they earned in the last quarter of 2019.
Women are also the hardest hit due to the pandemic – especially in low- and middle-income countries – the UN agency added, pointing out that the number of hours worked by men compared with women increased by 0.7%, in the first quarter 2022, measured against hours worked before the global health emergency.
Poor households and small businesses in the informal economy are also being “heavily hurt” by the loss of COVID-19 and an increase in food and commodity prices, caused by production and trade disruptions exacerbated by the Ukraine crisis, the ILO Monitor explains.
