ILO Warns of Global Job Losses in 2024, Projects 5.2% Unemployment Rate

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The International Labour Organisation (ILO) has issued a projection, stating that approximately two million workers could lose their jobs in 2024.

This prediction accompanies an expected increase in the global unemployment rate from 5.1% in 2023 to 5.2%, as highlighted in the latest report titled “World Employment and Social Outlook: Trends 2024.”

While the report acknowledges that joblessness and the jobs gap have improved since the pre-pandemic era, the ILO’s projection emphasized a concerning trend of growing inequalities.

Source: PUNCH

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