According to the International Labour Organisation (ILO) ,global unemployment is likely to fall below the pre-pandemic levels to _______ in 2023.

Solution

According to the International Labour Organisation (ILO) ,global unemployment is likely to fall below the pre-pandemic levels to 5.3 per cent or 191 million in 2023.The organisation further projected that low-income countries in the Arab and African region will not be able to recover to the pre-Covid levels of unemployment in 2023.For North Africa, the unemployment rate in 2023 is projected to be 11.2 per cent compared to 10.9 per cent in 2019, for Sub-Saharan Africa it is projected at 6.3 per cent as against 5.7 per cent in 2019 and 9.3 per cent for the Arab states as against 8.7 per cent in 2019).Latin America and the Caribbean are among the regions that have managed to reduce their unemployment rates substantially below to pre-Covid levels (6.7 per cent as compared to 8 per cent in 2019).Some of the other regions that have significantly reduced their rate are northern, southern, and western Europe with an unemployment rate of 6.3 per cent vis-a-vis 7 per cent in 2019, and central and Western Asia with 7.8 per cent as against 9.2 per cent in 2019.