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World Employment and Social Outlook

20-01-2025

09:30 AM

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1 min read
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Overview:

Recently, the International Labour Organization’s (ILO) published the World Employment and Social Outlook: Trends 2025 in Geneva.

About World Employment and Social Outlook:

  • It provides a detailed analysis of the state of global labour markets, highlighting key trends and challenges.
  • It explores issues such as the slowdown in labour market recovery, the persistence of youth unemployment, and the widening global jobs gap.

Key highlights of the report

  • In 2024, global employment grew in line with the labour force, keeping the unemployment rate steady at 5%. 
  • Geopolitical tensions, the rising costs of climate change and unresolved debt issues are the challenges before the recovery and the reasons for putting labour markets under pressure.
  • The labour force participation rates have dropped in low-income countries while increasing in high-income nations, mainly among older workers and women, the report pointed out. 
  • The report urged member countries
    • To boost productivity, invest in skills training, education and infrastructure to support economic growth and job creation.
    • Expand social protection: provide better access to social security and safe working conditions to reduce inequality.
    • Use private funds effectively: low-income countries can harness remittances and diaspora funds to support local development.

Q1: Who released the World employment and Social Outlook Report?

The International Labour Organization (ILO) will publish its World Employment and Social Outlook: Trends 2025 (WESO Trends). This report provides a detailed analysis of the state of global labour markets, highlighting key trends and challenges.

Source: TH