Keystone-SDA
The recovery in the labor market is stable around the world, according to the International Labor Organization (ILO). The unemployment rate should be maintained this year at 5%, like last year, she said Thursday in Geneva.
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January 16, 2025 – 11:30
(Keystone-ATS) It “is the lowest since the early 1990s,” general manager Gilbert Houngbo told the press. A total of 187.5 million job seekers are expected to be registered this year, 1.5 million more than last year. In 2016, this figure is expected to reach 188 million.
The global economy is slowing, but growth in the working population helped the job market grow a little last year, according to the report on employment and social issues. However, the youth unemployment rate remains high, at more than 12%.
Informal work and in-work poverty have returned to pre-pandemic levels, adds the ILO. The poorest countries have difficulty offering decent jobs.
Political tensions, the effects of climate change or debt also affect the job market. Especially since inflation has not made it possible to increase real wages outside of certain rich countries.
Fewer women
In the poorest states, activity rates have not increased. On the other hand, these, especially for older workers and women, have advanced in the richest countries.
There are still fewer women on the job market and the rate of young men has fallen significantly. In total, 1.8 million of them and 1 million more were out of work last year.
The global jobs gap, the number of people who want to work but are unemployed, exceeds 400 million. Among these are 186 million unemployed, 137 million discouraged unemployed and 79 million people who would like to work but have obligations.
Demand for more investments
In total, the number of informal jobs has increased, to well over two billion. That of workers in extreme poverty, however, fell to 240 million.
The ILO reiterates the potential of digital jobs, even if many countries lack infrastructure and green technologies. The latter already offer activity to 16.2 million people. But half of these jobs are in East Asia. And artificial intelligence (AI) could lead to more jobs, provided workers are supported. According to estimates, around 200 million jobs already revolve around this technology.
Mr Houngbo calls for more investment for decent jobs. Any delay could further deteriorate the situation, he said. The report calls for advancing social justice, boosting productivity and using private funds efficiently.
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