ILO's WESO Report 2025 Highlights Global Unemployment Slowdown at 5%.
International
On January 18, 2025, the International Labour Organization (ILO) released its flagship report, World Employment and Social Outlook: Trends 2025 (WESO Trends 2025), presenting a detailed analysis of global labour markets and future challenges. The report explores global employment trends, unemployment rates, and the broader social outlook.
- The global unemployment rate slowed to 5% in 2024 and is projected to decrease further to 4.9% by 2026. Youth unemployment, however, remains high at 12.6% in 2024.
- The total number of missing jobs worldwide stood at 402.4 million in 2024.
Main Point :- (i) Global economic growth remained steady at 3.2% in 2024 and is projected to sustain this rate in 2025, while inflation rates decreased from 6.7% in 2023 to 5.9% in 2024, with a further decline anticipated in 2025.
(ii) The global Labour Force Participation Rate(LFPR) remained steady at 61% in 2024.
(iii) The unemployment rate in India is projected to be 6.2% in 2024 and is expected to improve to 5.8% in 2025.
About International Labour Organization (ILO)
DG : Gilbert Fossoun Houngbo
Headquarters : Geneva, Switzerland
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