The global economic slowdown, caused by factors such as the war in Ukraine or the still-slow post-pandemic recovery, will cause global employment to grow by only 1% in 2023, a report by the International Labour Organization (ILO) predicts today.
That will be a considerable slowdown after the 2.3% growth seen in 2022, and the situation is unlikely to improve ostensibly in 2024, when the ILO forecasts global jobs growth of just 1.1%.
On the other hand, global unemployment, after two years of declines, will grow by 1.4% (or three million people), bringing the number of unemployed to 208 million, according to the same report.
This figure is still above that of the pre-pandemic era (192 million) and the increase, according to the agency, will be largely due to the scarce supply of jobs in developed countries.