Are labour markets overheating? Six charts explain state of employment

The ILO report also highlighted that incomes haven't returned to pre-pandemic levels across most of the world

As countries come out of the economic slump induced by Covid-19-related lockdowns, they have been forced to take a cautious approach. The pent-up demand and supply-chain problems have led to galloping inflation in most economies. Employment moving faster than expected hasn’t helped matters. 

In the UK, data released a fortnight ago showed that the economy hit an unemployment rate of 3.7 per cent in February — the lowest in nearly 40 years. In the US, the unemployment rate is at par with levels last witnessed in October 2019 (chart 1).
 

India has not seen a similar level of