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Shaping A New Labour Market For The Post-Pandemic Economy What took a decade to achieve unravelled within a matter of months. It seems like another age, but the start of 2020 had marked a decade of decline in the unemployment rate of the world’s advanced economies. When the COVID-19 pandemic struck, the unemployment rate in OECD countries increased by an unprecedented 3.6 percentage points between February and April, to 8.8% – the highest rate in a decade. The OECD unemployment rate has since fallen but is expected to remain above pre-crisis levels throughout 2022. In the meantime, the devastation to lives and livelihoods around the world caused by the pandemic continues, with the rollout and distribution of vaccines expected to take some time.

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