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'Sharp' global labour market slowdown underway: UN

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The war raging in Ukraine and other overlapping crises are taking a toll on labour markets worldwide, the UN said Monday, suggesting a “sharp” slowdown was already underway.

GENEVA, Switzerland —

The UN agency warned that multiple, overlapping crises, compounded by Russia’s war in Ukraine, were piling up with the world still in the grips of the Covid-19 pandemic. ILO said this uptick was especially apparent in high-skilled occupations — but cautioned that it was also driven by a surge in informal jobs, where social protections are generally lacking.

A recent survey found around a quarter of Ukrainian refugees had found waged work or self-employment in their host countries, ILO said.Monday’s report called for in-depth social dialogue to create the policies needed to counter labour market downturns.

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