The updated global employment and social prospects The report predicts that the global unemployment rate will reach 4.9 percent in 2024, slightly lower than 5.0 percent in 2023.
This represents a revision from the previous January projection of 5.2 percent for this year, which is expected to level off in 2025, with unemployment remaining at 4.9 percent.
‘Uneven playing field’
However, the report points to a persistent underemployment.
Currently, the number of people worldwide who do not have a job but want to work is 402 million. This includes 183 million people considered unemployed.
Women, especially those in low-income countries, are disproportionately affected by underemployment.
“Despite our efforts to reduce global inequality, the labor market remains an uneven playing field, especially for women,” says I LO Director General Gilbert F. Houngbo.
Inclusive policy needed
In low-income countries, more than one in five women (22.8 percent) cannot find work, compared to almost one in seven men (15.3 percent).
This contrasts with high-income countries, where this rate is almost 10 percent for women and 7.3 percent for men.
Although women in high-income countries earn 73 cents for every dollar men earn, in low-income countries this figure drops to just 44 cents.
The report finds that family responsibilities underlie many of these disparities, “indicating that women’s disproportionate share of unpaid care work plays a significant role in shaping the gender employment gap worldwide.”
Mr Houngbo called on countries to work towards inclusive policies that take into account all persons in the workforce.
“We must put inclusivity and social justice at the heart of our policies and institutions. If we do not do that, we will not meet our objective of ensuring strong and inclusive development,” he said.
