AsianFin -- Global unemployment remained stable at a historic low of 5% in 2024, with the International Labour Organization (ILO) projecting this rate to hold steady through 2025.
Despite this positive trend, the ILO highlighted a global economic slowdown from 3.3% growth in 2023 to around 3.2% in 2024, with moderate deceleration expected in the medium term. This gradual slowdown is anticipated to limit job creation and hinder a stronger labor market recovery.
The current global unemployment rate is the lowest recorded since the ILO began tracking data in 1991, with expectations to dip slightly further to 4.9% in 2026.
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