The some key points that I interest from ILO Brief, July 2023

 Myanmar: Labor market update 2023

Key points

1. The labor market in Myanmar has not yet recovered from the shocks of the military takeover nearly three years prior, the COVID-19 crisis and subsequent socioeconomic turmoil.
2. Continuing civil and political conflict, rising public debt, an increasingly negative trade balance, and rising inflation have taken their toll on the country's macroeconomic outlook. While recovered from the contraction in fiscal year 2021, GDP growth is estimated to remain low at 3 percent in 2023. The effects of Cyclone Mocha in Mya 2023 could make even this low growth estimate unreachable given the additional pressure placed on livelihoods and resources required to promote recovery.
3. Progress on the creation of decent jobs has been reversed. With job losses in the public sector and limited opportunities in manufacturing, more workers have turned to self-employment and to work in lower value-added sectors to generate income, even when returns are meagre.

Source: ILO Brief: Myanmar: Labour market update 2023