Entitled “World Employment and Social Outlook: Trends 2023”, the ILO report forecasts that global employment growth will be only 1% in 2023, down from 2% last year, while global unemployment is expected to rise slightly in 2023, by about 3 million, to 208 million, giving a global unemployment rate of 5.8%.
The ILO recalled that the moderate magnitude of this increase is mainly due to insufficient labour supply in high-income countries which would mark a reversal of the decline in global unemployment observed between 2020-2022.
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