According to the ILO World Employment Report, the global economy is slowing, making it more difficult for labor markets to fully recover. In 2024, global employment remained stable, increasing only due to growth in the labor force, which helped keep the unemployment rate at 5%, the report said.
However, youth unemployment has barely improved, remaining high at 12.6%. In addition, informal work and in-work poverty have returned to pre-pandemic levels, and low-income countries have had the most difficulty creating decent jobs.
Global jobs gap stands at 402 million
Under these conditions, the global jobs gap – the estimated number of people who want to work but do not have a job – will reach 402 million in 2024.
This figure includes 186 million unemployed people, 137 million discouraged workers and 79 million people who would like to work but have obligations, such as child care, that prevent them from holding a job.
If the gap has gradually narrowed since the pandemic, it should stabilize over the next two years, says the ILO.
According to the report, participation rates have declined in low-income countries while increasing in high-income countries, mainly among older workers and women. However, gender gaps remain significant, with fewer women in the labor market, which limits progress in living standards.
Labor market participation is declining, particularly among young people
Among young men, the participation rate has fallen sharply, and many are not in education, employment or training (NEET). This trend is particularly pronounced in low-income countries, where NEET rates for young men have increased by almost 4 percentage points compared to the historical average before the pandemic, leaving them vulnerable to economic challenges.
-NEET rates in low-income countries increased in 2024, with young men reaching 15.8 million (20.4%) and young women 28.2 million (37.0%), respective increases of 500 000 and 700,000 compared to 2023.
Globally, 85.8 million young men (13.1%) and 173.3 million young women (28.2%) were NEETs in 2024, an increase of 1 million and 1.8 million respectively per year. compared to the previous year.
New opportunities in the green and digital sectors
ILO Director-General Gilbert F. Houngbo stressed the urgency of action. For the ILO, decent work and productive employment are essential to achieving social justice and the Sustainable Development Goals.
To avoid exacerbating already strained social cohesion, escalating climate impacts and increasing debt, we must act now to address labor market challenges and create a fairer and more sustainable future. Any delay risks worsening the crisis and leaving millions of people behind,” he said.
The study identifies potential for job growth in green energy and digital technologies. Renewable energy jobs have grown to 16.2 million worldwide, thanks to investments in solar power and hydrogen. However, these jobs are unevenly distributed, with almost half of them in East Asia. Digital technologies also offer opportunities, but many countries lack the infrastructure and skills to take full advantage of these advances, the report notes.
