Labour markets have shown surprising resilience despite deteriorating economic conditions, but recovery from the pandemic remains uneven as new vulnerabilities and multiple crises are eroding prospects for greater social justice.
The report reveals a complex global employment scenario. It forecasts a slight increase in global unemployment in 2024, signalling emerging labour market challenges. The report highlights disparities between high and low-income countries, noting higher unemployment and poverty rates in lower-income nations. It also points out that a significant portion of the global workforce remains in informal employment.
Key concerns include worsening income inequality and the impact of inflation on real incomes, especially in G20 countries. The report underscores the need for policy interventions focused on social justice to ensure a fair and sustainable global economic recovery.
