The inflationary escalation fueled by the war in Ukraine assumes some of the world’s economies have a torpedo at the waterline and can be blamed. 123 million jobs spherical. A report from the International Labor Organization (ILO) (published this Monday) points out that the consequences of the war and new restrictions on Asia translate into fewer working hours in the world’s economies as a whole, especially in lower-income countries. And the projections for the coming months are that this deterioration will go further. “The impact on workers and their families, especially in developing countries, will be devastating. and could escalate into social and political crises,” warns the ILO Director-General, man rider.
The ILO’s estimates suggest that the trend of gaining economic activity and with it higher employment rates is reversing. It was going more until the end of 2021, now it goes less. According to their calculations all over the world and in the second quarter of this year 4.2% fewer hours More than before covid, which is equivalent to 123 million full-time jobs. Paradoxically, low- and middle-income countries will hit the conflict harder than most neighboring countries in the wake of war, which has fueled rising inflation and made essential goods more expensive around the world.
And the thing is, high-income countries – Spain among them – are continuing their labor recovery compared to the pre-Covid stage and just 1.5% hours away from returning to the same employment intensity levels as before the pandemic. In fact, data updated monthly by the Spanish Government show strong growth in employment. Without going any further, this May will record the third best month of May in Spain, predicting 216,000 new jobs will be created in Spain. And according to the latest EPA data, more hours are worked in Spain than before Covid.
women are worse than men
However, low-income countries have seen it in the war in Ukraine and restrictions in Southeast Asia. reversal of bullish trends and losing their activity again. With the consequences of this lower income and greater poverty. And in this gap between rich and poor countries, women will be more affected than men, as they are more likely to be in jobs that are more volatile in the face of any economic upheaval. According to ILO estimates worldwide, they will work 4.3% fewer hours this second quarter than before Covid, compared to 3.6% of men.
from the ILO urge governments to be particularly vigilant during the current escalation of inflation for low-income households. As these households “spend a significant portion of their income on food, they are particularly at risk of falling into poverty and may even have to face food insecurity and hunger,” the international body warns.
Source: Informacion
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