“ILO:  Multiple Crises Threaten Recovery in   Global Labor Market 

The International Labor Organization (ILO) confirmed that the global labor market is threatened and moving in the opposite direction due to multiple and interrelated global crises.

The organization noted that after achieving significant gains during the last quarter of last year, the number of working hours worldwide decreased in the first quarter of 2022 to 3.8%.

These gains are lower than the pre-Coronavirus standard (the fourth quarter of 2019) and are equivalent to a shortfall of 112 million full-time jobs.

The new and interconnected global crises, including inflation, especially in energy and food prices, financial turmoil, potential debt distress, and global supply chain disruption, exacerbated by the Ukraine crisis.

This means that there is an increased risk of further outbreaks, the organization said in a report issued on Monday.