In 2021, 22 crore individuals are predicted to be unemployed globally: ILO.

In 2021, 22 crore individuals are predicted to be unemployed globally: ILO.

The International Labour Organization (ILO) indicated that at least 22 crore people would be unemployed this year. "The employment growth will be insufficient to make up for the losses suffered until at least 2023," it said in the World Employment and Social Outlook Trends 2021 report.

According to the report, women, young people, and the 200 million people who labor in the informal sector have been affected the worst. According to the ILO, global employment recovery is expected to accelerate in the second half of 2021, assuming that the overall pandemic situation does not worsen.

"However, this will be uneven, due to unequal vaccine access and most developing and emerging economies' limited capability to sustain large fiscal stimulus measures," it stated, adding that the quality of newly created jobs in those nations is likely to degrade.

On Wednesday, the International Labour Organization (ILO) also predicted that global unemployment would be 5.7 percent in 2022, with approximately 205 million unemployed people worldwide, up from 187 million in 2019.

Source- Economic Times




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