The International Labor Organization (ILO) expects the global unemployment rate to decline slightly to 4.9 percent this year from 5 percent in 2023, despite continued inequality in labor markets.
The U.N. agency estimated in January that the unemployment rate would rise to 5.2 percent due to a rise in advanced economies. The main reason for the review is lower than expected in China, India, and high-income countries so far since the start of the year.
According to the OECD report, the downward trend of the rate is expected to stabilize in 2025 and continue at 4.9 percent.
Source (Al-Arabiya.net Website, Edited)
