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.
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.”