According to a United Nations organization, there will be a tiny decrease in global unemployment this year, contrary to its earlier forecast of an increase. However, the agency cautioned about “slow progress” in addressing inequities.
The International Labour Organization (ILO), which once predicted that unemployment would increase to 5.2 percent this year from five percent in 2023, now projects a global jobless rate of 4.9 percent in 2024.
According to a research by the UN agency based in Geneva, the rate is expected to remain at 4.9 percent in 2025.
However, the ILO cautioned that “inequalities in labour markets persist, with women in low-income countries particularly affected.”
According to the research, 183 million people fit the definition of unemployed, which is to say that they are instantly accessible and actively seeking employment. However, 402 million individuals were unemployed and want employment.
The organization added that women were disproportionately impacted by a lack of options and more likely to be unintentionally unemployed.
Women in low-income nations were particularly badly affected; compared to men, 15.3 percent of them said they would prefer a job that did not include work, or 22.8 percent.
In high-income nations, the percentage was 7.3% for males and 9.7% for women.
The report also warned that these differences were just the “tip of the iceberg” as women were much more likely than men to have left the labour force altogether.
Worldwide, the report estimated that 45.6 percent of women of working age were employed in 2024. For men, the figure was 69.2 percent.
“Despite our efforts to reduce global inequalities, the labour market remains an uneven playing field,” ILO Director-General Gilbert Houngbo is quoted as saying in a press release.
“To achieve a sustainable recovery whose benefits are shared by all… we must place inclusion and social justice at the core of our policies and institutions,” Houngbo said.
The ILO is the oldest specialised UN agency and brings together employers, unions and governments from around the world.
