The Covid-19 pandemic created a lot of macro volatility. One of those impacts was the severe disruption of labor markets due to economy-wide shutdowns in many regions of the World. Global employment fell by 1.9% in 2020. But it was the more dramatic 5.9% decline in total hours worked that really highlighted the full extent of the shock. In the years after 2020, as economies reopened, the rebound in hours worked accounted for much of the GDP growth during that period.