GDP for the OECD as whole returned to pre‑pandemic levels by Q3 2021, but growth slowed down at the start of 2022

Employment levels since the onset on the COVID‑19 crisis

The OECD unemployment rate also returned to pre‑pandemic levels by the end of 2021

Unemployment rate: Pre‑crisis, peak, and most recent

Employment growth is projected to slow down and the unemployment rate to stabilise over 2022 and 2023

In Q1 2022, hours worked were still below pre‑crisis levels in most countries

Employment and inactivity rates improved relative to the pre‑crisis situation in most countries

By Q1 2022, long-term unemployment was higher than before the COVID‑19 crisis in many countries, but generally receding

Labour demand has increased very quickly

The share of firms reporting production constraints from labour shortages has increased across Europe