Post-COVID Global Unemployment Expected To Reach 205 Million

FILE - A Unemployed Graduate of South Africa holds a placard and raises her fist while staging a demonstration at Church Square in Pretoria, Aug. 14, 2020.  

VOA: Post-COVID Unemployment Expected to Reach 205 Million 

GENEVA - An analysis of post-COVID-19 employment prospects projects global unemployment will reach 205 million in 2022, greatly surpassing the pre-crisis level of 187 million in 2019. The International Labor Organization has launched its new edition of the "World Employment and Social Outlook: Trends 2021." 

Authors of the report say the COVID-19 pandemic is not just a health crisis. It also is an employment and human crisis that will have long-lasting ramifications for economies around the world. They say the social and economic impact of the pandemic is far from over and will continue to be felt until at least 2023.  

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WNU Editor: It is not only global unemployment numbers that are going up. It is also working people earning less while paying more for the necessities of life that is making this into a real crisis .... Food fears rising (Axios). 

And what is even more worrying is that long term projections are saying that it is going to get worse, even in Western nations. 

An economic pundit that I follow put out this warning early in the week. There is a labor shortage right now because most people are preferring to stay home collecting their benefits rather than working and earning (maybe) an extra $100. 

But this is going to change next year. 

The stimulus checks are going to come to an end, and while people may not care about working today, they are going to be begging for work next year. 

My gut is telling me that he is probably right.