Jobs recovery is stalled worldwide and disparities between advanced and developing economies is threatening the whole global economy, the International Labour Organisation, ILO, warned on Wednesday.
The agency is projecting that global hours worked this year will be 4.3 per cent below pre-pandemic levels, the equivalent of 125 million full time jobs.
This is a dramatic revision of the projection made in June, of 3.5 per cent or 100 million full-time jobs.
READ ALSO: Breaking: Barcelona sack coach Ronald Koeman
The eighth edition of the ILO Monitor: COVID-19 and the world of work also warns of a “great divergence” between developed and developing countries, saying it will persist without concrete financial and technical support.
In the third quarter of 2021, total hours worked in high-income countries were 3.6 per cent lower than the fourth quarter of 2019, before the pandemic hit.
By contrast, the gap in low-income countries stood at 5.7 per cent and in lower…
Source: Vanguard Newspaper
