Global Unemployment Will Decrease Slightly This Year: UN Labor Agency

Thu May 30 2024
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UNITED NATIONS: Global unemployment will decrease slightly this year, but unequal access to jobs is still a problem worldwide, particularly for women in poorer countries, according to a new report from the International Labour Organization (ILO), a Geneva-based UN agency.

The updated ‘World Employment and Social Outlook’ report shows a global unemployment rate of 4.9 percent in 2024, down slightly from 5.0 percent in 2023. This is a revision from the January projection of 5.2 percent for this year, with unemployment expected to stabilize at 4.9 percent in 2025.

Despite this modest improvement, the report highlights a persistent lack of employment opportunities. Currently, 402 million people worldwide want to work but are jobless, including 183 million classified as unemployed.

Women, particularly in low-income countries, are disproportionately affected by this lack of job opportunities. “Despite our efforts to decrease global inequalities, the labor market remains an uneven playing field, especially for women,” said by ILO Director-General Gilbert Houngbo.

In low-income countries, over one in five women (22.8 percent) cannot find work, compared to nearly one in seven men (15.3 percent). In contrast, high-income countries see nearly 10 percent of women and 7.3 percent of men struggling to find employment.

Furthermore, the wage gap is stark: women in high-income countries earn 73 cents for every dollar earned by men, while this figure drops to just 44 cents in low-income countries. The report attributes much of this disparity to family responsibilities, indicating that women’s disproportionate share of unpaid care work significantly influences global gender employment gaps.

Houngbo called for countries to adopt inclusive policies that consider all workforce members.

He further said, “We must place inclusion and social justice at the core of our policies and institutions. Unless we do, we will fall short of our objective to ensure strong and inclusive development.”

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