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China lockdowns, war risk derailing global jobs recovery, says ILO

China accounted for 86% of the dip in working hours due to containment measures to stop the spread of Covid, according to the report

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Rising inflation, driven mainly by energy prices and supply chain issues, also poses a risk of stalling an economic and jobs recovery if workers' incomes do not keep step, the ILO said.

Reuters Berlin
The global job market is at risk of doing a U-turn on its path towards recovering to pre-COVID-19 levels as lockdowns in China and the war in Ukraine weigh on economies, the International Labour Organization (ILO) said in a report on Monday.

The U.N. agency estimated that there was the equivalent of 112 million fewer full-time jobs in the first quarter of 2022 compared with pre-COVID levels, and there was a growing but uncertain risk that the amount of hours worked would continue to decline over 2022.

China accounted for 86% of the dip in working hours due to containment

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: May 23 2022 | 4:17 PM IST

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