November 16, 2022
It’s been almost three years since the COVID pandemic swung a wrecking ball through our societies, our economies, and our workplaces. But even now, with the most acute phase of the crisis behind us, many aspects of life still aren’t back to what they were in the B.C. (Before Coronavirus) era. One great example is the hours worked in our economies. When the pandemic struck, lockdowns and other restrictions caused the number of hours worked on a quarterly basis around the world to plunge by nearly 20% compared to the final quarter of 2019, the baseline for “last moments of pre-pandemic normalcy.” But since then, the world as a whole still hasn’t gotten back to pre-pandemic levels of hours worked — we’re still almost 1.5% below them. Lower-income countries are struggling more than rich ones to get back to where they were, and there is only one region of the world that shows more hours worked now than before the pandemic — can you guess which one it is?
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QatarEnergy's liquefied natural gas production facilities, amid the US-Israeli conflict with Iran, in Ras Laffan Industrial City, Qatar, on March 2, 2026.
REUTERS/Stringer
The US-Israeli war with Iran has badly damaged oil & gas producers in the Gulf and consumers in the Indo-Pacific. But not all countries within those regions will feel the pain equally.
A Russian LNG tanker, Arctic Metagaz, damaged earlier this month and currently adrift without crew, floats in international waters in the Mediterranean Sea between Malta and the Italian islands of Lampedusa and Linosa, in this handout picture released on March 13, 2026.
Marina Militare/Handout via REUTERS
700: The tons of fuel and liquefied natural gas aboard a Russian tanker that is currently floating around the Mediterranean Sea unmanned, after a drone attack earlier this month prompted the crew to abandon ship.
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