The International Labour Organization (ILO) predicts that the global unemployment rate will rise slightly in 2024, due to stagnant productivity, worsening inequality, and inflation that erode disposable income.
According to the ILO in its Global Employment Trends and Social Outlook 2024 report, the global unemployment rate has fallen from 5.3 percent in 2022 to 5.1 percent in 2023, and an additional 2 million workers are expected to look for a job in 2024, which will again contribute to the rate rising to 5.2 percent. The post-Covid-19 economic recovery has slowed, against the backdrop of geopolitical tensions and persistent inflation that have led to central banks taking proactive action.
Source (SkyNews Arabia Website, Edited)
