The United Nations estimates that the coronavirus pandemic caused the equivalent of more than a quarter of a billion to lose their jobs in 2020. The start of the year, which saw strong economic growth and low unemployment rates worldwide, drastically changed last March when the world was force to shutdown and rates spiked to 8.6 percent.
In response to the economic downturn that followed the initial COVID-19 outbreak, many governments unveiled extraordinary fiscal measures to help keep businesses afloat and individuals employed.
These efforts resulted in a steady decrease in the unemployment rate to 6.9 percent.
So how did global unemployment rates really fare at the end of 2020, and how does that affect all future quarters? Download our Global Labor Market Report for 4Q 2020 below to find out this and more.
