The International Labour Organization (ILO) said on Wednesday that unemployment rate the world is rising 5.2% this yearmainly due to rising unemployment in advanced economies.
Report World social development and employment forecast for 2024 The ILO predicts that the number of unemployed increase by 2 millionwhich will raise the global unemployment rate to 5.2% from 5.1% in 2023.
“We design moderate drop in results in labor markets, in part because economic growth is slowing around the world,” he said. Richard SamansDirector of the ILO Research Department.
The UN agency said that after short-term growth spurt As countries recovered from the pandemic, aggregate productivity growth quickly returned to previous levels. low rhythm registered in previous decade.
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“In periods of slow productivity growth, real disposable income and real wages are often vulnerable to sudden price shocks,” the ILO report says.
The report indicates that employment growth is expected to increase modestly next year. upper middle income countries during next two yearsbut this is in countries low and lower middle income will continue to be solid.
“The situation is especially alarming in high income countrieswhere job growth is expected to be negative in 2024 and only modest improvements are expected in 2025,” he said.
(Reuters)
Source: Aristegui Noticias
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.
