Global Labour Market Hamstrung By Unequal Vaccine Distribution - ILO

• The pandemic-induced loss in working hours in 2021 will be equivalent to 125 million full-time jobs, the International Labour Organization (ILO) said on Wednesday, in a sign that the global labour market is not recovering as expected this year. 
• That number is 25 million higher than what the ILO predicted in its last report in June, affected primarily by the disparities in vaccine rollouts in poorer and richer countries.
• Globally, the number of hours worked is set to be 4.3% less than the pre-pandemic level, the ILO said. 
• However, when that figure is calculated based on countries' income level, there is a 2.1 percentage points difference: Rich countries saw only a 3.6% loss, versus a 5.7% for poorer nations.

(Source: Reuters)