(International Organization for Standardization: Geneva) -- As the Covid-19 crisis grinds on, the forecast for the world’s economy is looking bleak indeed. In its “World Employment and Social Outlook: Trends 2022” report, the International Labour Organization (ILO) warns of an “uncertain recovery” as the pandemic continues to significantly affect labor markets.

Global unemployment is expected to remain above pre-Covid-19 levels until at least 2023, with the report also suggesting the overall impact on employment could be significantly higher because many people left the labor force during the pandemic. In 2022, the global labor force participation rate is projected to remain 1.2 percentage points below that of 2019, or the equivalent of 52 million full-time jobs. This downgrade reflects the impact the pandemic has had on the world of work and the uncertainty facing employers and workers in the immediate future.

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