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ILO: Global unemployment rate to ‘rise modestly’ in 2024

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However, it also warned that two million people are expected to be looking for jobs this 2024, which could raise the global unemployment rate to 5.2%.

“Unemployment is expected to rise modestly in 2024: as labour force participation rates decline and employment growth slows, global unemployment will rise by two million,” the WESO Trends said.

Global jobs gap

The global jobs gap, which is the number of persons without employment who are interested in finding a job, also declined to pre-pandemic levels, according to the WESO Trends.

“The global jobs gap also saw improvements in 2023, but, at close to 435 million, remained elevated,” the report said.

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