Top 5 Global Economy Predictions For 2022

The pandemic came as a shock and shook the world to the very core. Its emergence rocked the very foundation of things we have come to know and understand such as science and technology. The widespread knowledge and growth in the science field was not enough to put a stop to the spread of the virus. The economy at large was not left behind and it shared in the impacts of the pandemic. This has caused a massive turnaround in the world economy and several forecast have been made to that effect. The following are the top five global economy predictions for the year 2022:

• Inflation

This has to do with an increase in the cost of living in an economy. Recently, due to the pandemic, inflation has been on the high side and it has impaired the overlook of the world economy. In the first half of 2022, the price of shipping, energy, etc. will have a continual increase and it will only slow down towards the end of the year.

• Global Economic Growth

The speed of global expansion will eventually return back to normal and pick up. In the year 2022, the global economy is predicted to improve by 4% as opposed to the 5.1% estimate made in the year 2021. Although, more efforts will be provided in fighting climate change, the growth of the global economy will be strong.

• Global Employment Growth

It is foretold by the International Labor Organization that global unemployment will remain above pre-covid 19 levels till the year 2023. The effect of the pandemic can be felt in the labor market around the world. An estimate of 207 million individuals are projected to be out of work in 2022, this is a great increase when compared with the numbers of the preceding years. This is why an organization like Wehireglobally that aims at global expansion should be contacted in situations like this.

• Popular In-demand Jobs

The future can be uncertain in specific situations. Due to the covid-19 pandemic, several field of interest will be in high demand, such as healthcare, information technology, financial management, etc. Numerous careers have taken a great hit due to the pandemic and this has caused a great demand for certain jobs.

• Healthcare

The health sector of the world was put into great disorder as a result of the pandemic. Developed countries were not left behind, their prowess in the health sector was rocked. Several obstacles presented itself like the emergence of new covid variants, overcrowding of hospitals, vaccination, etc. The suddenness of the pandemic left no room for a quick fightback and countries were left to grapple on surviving. In the year 2022, more focus will be placed on creating a virtual healthcare solution and a fair health care system.

Conclusion

With the direction at which the world is going, it is necessary that adequate preparation be made in order to handle further unforeseen obstacles. If there is one thing the pandemic taught the world, it is that uncertainty is inevitable.

This article does not necessarily reflect the opinions of the editors or management of EconoTimes