World Employment and Social Outlook 2021
According to World Employment and Social Outlook 2021, global unemployment is expected to be increased to 205 million in 2022 as compared to 187 million in 2019.
Key findings
- As per the report, jobs shortfall amid COVID-19 pandemic was 75 million in 2021 and it will increase to 23 million in 2022.
- Covid-19 has worsened inequalities because women workers are dropping out of labour force. Years of progress to achieve gender equality is now at risk.
- Informal and low-skilled workers have no option to work from home. They faced huge health risks to keep their jobs.
- 108 million workers and their family members now live-in poverty.
- Pandemic has hit African countries hard because of fall in trade disrupted supply chains, remittances shrunk and halt in tourism. It will induce jobs gap of nearly 17 million Africa in 2020.
- Covid-19 reversed the progress made in reducing poverty in Africa.
World Employment & Social Outlook
- Report analyses impact of crisis on labour market across the globe.
- It provides projections for recovery and details of unequal impact of crisis on different groups of workers and enterprises.
- It called for a broad-based human-centered recovery.
Why unemployment will increase?
As per report, Covid-19 has caused an unprecedented disruption to labour markets worldwide. It has affected lives of younger generation caused disruption to their education. Regions where digital infrastructure is less developed were highly affected. It is now difficult for them to enter labour market and hold on to jobs. Thus, unemployment is going to increase.
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Month: Current Affairs - June, 2021