International Labour official reports sluggish job recovery post pandemic

Richard Samans, International Labour Organisation's G20 Sherpa and Director of Research ILO, on Friday expressed concerns regarding the global employment levels and the impact of the pandemic on the labour market.

In an exclusive interview with CNBC TV18, Samans noted that there has been a deacceleration of employment levels since the depths of the pandemic, and we are well behind on employment from where we were before the pandemic.

He emphasised that due to inflation and price hikes, the take-home real wages of people are under pressure, and young people and those working in the unorganised sector have had a really difficult time due to the pandemic.

During the interview, Samans also apprised the G20 of the developments in the labour market. He reminded governments not to just celebrate GDP growth, but also to focus on the social impact of the pandemic on people's lives.

Moreover, Samans pointed out that countries dependent on imported food and energy have seen major hits on their economies, and debt service obligations are much more difficult to meet. He stressed that narrowing fiscal space for many indebted countries deserves the greatest importance.

The treatment of external debt obligations of vulnerable countries has been moving too slowly and needs significant progress, he added.

Samans' remarks underscore the ongoing challenges facing the global economy and the urgent need for governments to take swift and coordinated action to support the recovery and address the social impact of the pandemic on people's lives.

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