Global labour markets showed resilience in 2023, with falling unemployment and recovering participation rates. However, fragility in working conditions persists, leading to a cost-of-living crisis. Employment growth is expected to decline in 2024, exacerbating existing decent work deficits.
(Generated with the help of GPT-4)
| Quick Facts | |
|---|---|
| Report location: | source |
| Language: | English |
| Publication date: | January 10, 2024 |
| Publisher: | International Labour Organization |
| Authors: | Ekkehard Ernst, Lisa Feist, Miguel Sanchez Martinez, Pascal Kampert, Richard Horne, Steven Tobin, Gilbert F. Houngbo |
| Geographic focus: | Global |
The research method involved a comprehensive analysis of global labour market data, focusing on trends in unemployment, job creation, and labour force participation. It utilized statistical modeling to project future labour market conditions and examined regional disparities and demographic factors influencing employment outcomes.
(Generated with the help of GPT-4)
The report assesses global labour market trends and imbalances following the pandemic recovery. Despite a decrease in global unemployment to its lowest level since the pandemic began, significant challenges remain, including a cost-of-living crisis driven by rising energy and food prices. Labour force participation has largely rebounded, but disparities persist, particularly affecting women and youth. The report highlights that while employment growth was positive in 2023, projections for 2024 indicate a slowdown, with unemployment rates stabilizing. Major decent work deficits, including gender participation gaps, working poverty, and informality, are expected to continue. The analysis covers regional differences and the impact of various factors on labour market dynamics, emphasizing the need for coordinated policy responses to address these challenges and promote social justice.
(Generated with the help of GPT-4)