Estimate from ILO in the third quarter of 2022, indicating that working hours are 1.5% below pre-pandemic levels, causing a deficit of 40 million full-time jobs.
Inflation rises, wages fall
10th edition of Follow on World of Work asserts that rising inflation is causing real wages to fall in many countries.
This is due to the fact that income has decreased significantly over time COVID-19 crisis, affecting low-income groups most in many countries. The report shows that Labor market inequality is likely to increasecontribute to the continuing divergence between developed and developing economies.
According to Monitor, a series of overlapping and overlapping crises, compounded by the Ukraine war and subsequent pervasive negative effects, realized in 2022, having a profound impact on the world of work. .
Food and energy in the flow
The effects are being felt through food and energy inflation, falling real wages, Rising inequality, shrinking policy options and higher debt in developing countries.
Slowing economic growth and aggregate demand will also reduce demand for workers as uncertainty and worsening expectations affect hiring.
The Monitor finds that worsening labor market conditions are affecting both job creation and job quality, indicating that there is already data showing a sharp downturn in the labor market.
At the beginning of 2022, hours worked globally are recovering strongly, especially in higher-skill occupations and among women.
However, this trend is driven by an increase in informal employment, jeopardize 15 years of progress formalization trend.
Unite, end the war
The ILO says that a Strong commitment is required for initiatives like the United Nations Global Accelerator of Employment and Social Protection; Its goal is to create 400 million jobs and extend support to the four billion people with nothing to return if they get sick or injured at work.
The United Nations Agency noted that a expeditious end to the conflict in Ukraine, as required by the resolutions of the ILO Executive Body, would contribute to a further improvement of the global employment situation.
“Resolving this troubling global employment situation, and preventing a significant downturn in the global labor market, will require comprehensive, integrated and balanced policies both nationally and globally“The Director General of the ILO said, Gilbert Houngbo.
“We need to deploy a wide range of policy tools, including interventions on prices of public goods; recover profits earned; increase income security through social protection; support to increase income; and targeted measures to support the most vulnerable people and businesses. “
A 13-year-old boy works in a mechanic shop in Syria.
