Global unemployment rate is expected to fall slightly to 4.9% in 2024.

International

The global unemployment rate is expected to fall slightly to 4.9% this year from 5.0% in 2023, even as inequalities in labour markets persist, the International Labour Organization (ILO) said on Wednesday. The ILO, a United Nations agency, in January estimated unemployment to inch up to 5.2% due to an expected rise in joblessness in advanced economies.


      The International Monetary Fund in April raised its 2024 forecasts for global growth to 3.2% from the 3.1% estimated in January, largely due to an improvement in the U.S. outlook

      The revision is mainly due to lower-than-expected unemployment rates in China, India, and high-income countries reported so far this year, the agency said.

      The downward trend for joblessness is expected to flatten in 2025, with unemployment remaining at 4.9%, the report said.

 

     


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