This has been said in a new report of ILO released on Thursday – 'World Employment and Social Scenario: Trends 2025'. This report highlights the slowdown of the global economy. This is affecting labor markets and hampering progress in the recovery from the last economic recession. According to the report, global employment growth in 2024 will be in line with the labor force, keeping the unemployment rate at the same level as the year before. , young people faced very high unemployment rates, with little sign of improvement. Informal work and people classified as working poor, before the pandemic and low-income countries have faced the greatest difficulties in creating good jobs for their citizens. Recovery ChallengesAccording to the labor scenario, the global economy expanded at a moderate rate to 2024. Continued to do so, which slowed down at the end of the year. This moderate growth is expected to continue through 2025 and over the medium term. While inflation rates have declined, the economy has not fully recovered from the COVID pandemic-related loss of income. Weak employment growth is also partly responsible for this. The report said that real wages have increased only in a few advanced economies – and most countries are still recovering from the effects of previous crises. Declining labor force participationLow incomes Labor force participation has declined in low-income countries, while it has been rising steadily in high-income countries – primarily among older workers and women. Yet, with lower numbers of women in the workforce, gender The gap remains wide, limiting progress in living standards. The share of young men has fallen sharply, many of whom are excluded from education, employment or training (NEET) programs, leaving them vulnerable to economic challenges. They have become extremely vulnerable, i.e. vulnerable. The estimated number of such people across the world will reach 40.2 crore in the year 2024 who want to do employment work, but do not have employment work. This number This includes 18.6 crore unemployed people and 13.7 crore people who are temporarily unavailable for work. This figure also includes 79 million discouraged workers who, out of frustration, have stopped looking for employment. New opportunities in green and digital sectors In this study by the International Labor Organization, employment opportunities in green energy and digital technologies The potential for growth in employment is highlighted. Driven by investment in solar and hydrogen energy, 16.2 million jobs have been created worldwide in the renewable energy sector. Have increased till. However, these jobs are unevenly distributed, with almost half of them located in East Asia. Digital technologies are also providing employment opportunities, but the report says too many countries have yet to fully benefit from these advances. There is a lack of infrastructure and skills to take up. Latest solutions ILO Director-General Gilbert Houngbo has stressed the need for urgent action, saying, "Work and productive employment with better incomes and conditions are essential." The report's recommendations include boosting productivity by investing in skills training, expanding social protection, and supporting local development in low-income countries. Gilbert Houngbo concludes, "To avoid further strain on already strained social cohesion, to avoid exacerbating climate impacts and increasing debt, Labor “We must act now to address market challenges and build a fairer, more sustainable future.”
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