The United Nations (UN) has revised its earlier forecast of a rise in unemployment in 2024. The agency now predicts a global decrease in unemployment for the current year.
The International Labour Organisation (ILO) being the oldest specialised UN agency, which serves as a unifying force, bringing together employers, unions, and governments from across the globe anticipates a global unemployment rate of 4.9%, down from the previously forecasted 5.2%. The UN agency, headquartered in Geneva, projects that this rate will remain at 4.9% through 2025.
However, the ILO cautioned that “inequalities in labour markets persist, with women in low-income countries particularly affected.”
It has been reported that 183 million people are “unemployed,” actively seeking jobs, while the number of those without a job but desiring work stands at 402 million.
The ILO highlighted that women are more likely to be involuntarily out of work and unduly affected by the lack of opportunities.
![UN Forecasts Global Unemployment Decline for 2024](http://newscentral.africa/wp-content/uploads/UN-Forecasts-Global-Unemployment-Decline-for-2024-News-Central-TV-1024x576.webp)
Statistics reveal that women in low-income countries are especially impacted, with 22.8% seeking employment but not in work, compared to 15.3% for men.
In high-income countries, the figures are 9.7% for women and 7.3% for men. Additionally, women are more likely than men to exit the labour force.
Globally, an estimated 45.6% of women of working age were employed in 2024, contrasted with 69.2% for men.
ILO Director-General Gilbert Houngbo said in a press release, “Despite our efforts to reduce global inequalities, the labour market remains an uneven playing field.”
“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.”