Quarterly Progress Report: Q2-2020
Dear Partners & Friends,
to start with: we hope this finds you well!
The last months have challenged us all in new ways. Thankfully, we witnessed an unprecedented wave of support and innovation across the globe. Policymakers, institutions, corporates, and startups alike have set up successful response strategies to mitigate the effects of the pandemic.
In spite of all the great work, the crisis is far from over. In fact, we are only just beginning to grasp the magnitude of its impact on employment.
The recently published OECD Employment Outlook 2020 estimates that the OECD unemployment rate may reach 9.4% towards the end of 2020, exceeding all the peaks since the Great Depression. This year's average employment rate is projected to be between 4.1% and 5% lower than in 2019. Even at the end of 2021, the share of people in work is expected still to be below pre-crisis levels.
We wholeheartedly believe that the problem we are committed to solving is as clear and pressing as ever. Over the last weeks and months, we achieved great progress in the work with our partners and are positive that our work empowers job-seekers and benefits those individuals at risk. You can read here a summary of the milestones last quarter.
Let's keep the spirit up and work towards an inclusive economic recovery.
PS: We hope you like our new design language. It shall make our approach and value proposition clearer. You find more on our website. Please don't hesitate to send us your feedback and comments.