WORKFORCE WORLD OVER TO FACE GREAT HARDSHIP IN 2023
EMERGENCE OF NEW COVID-19 CASTS SHADOW ON LABOUR MARKET
2022-12-22 10:47
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Workforce world over would face greater hardship in 2023. IMF has already sounded alarm over the grim global situation in their latest World Economic Outlook. More than a third of the global economy is expected to slip into recession in 2023, while the three large economies – the United States, the European Union, and China – would continue to stall, IMF Economic Counsellor Pierre-Olivier Gourinchas has said. According to the IMF assessment made before the emergence of the new COVID-19 in China, the global economic growth was likely to fall to 2.7 per cent with a 25 per cent probability that it might fall below 2 per cent. The China nightmare that has threatened every part of the world would additionally cast its shadow. It would distort the labour market.