The global unemployment rate will increase slightly in 2024, the United Nations said on Wednesday (Jan 10) as it raised concerns about stagnant productivity, worsening inequalities and inflation biting into disposable income.
The UN’s labour agency said the economic recovery from the COVID-19 pandemic has slowed down, with ongoing geopolitical tensions and persistent inflation triggering aggressive moves by central banks.
That said, global growth in 2023 was modestly higher than anticipated, and labour markets showed surprising resilience, the International Labour Organisation said.
However, real wages declined in most of the G20 countries as wage increases failed to keep pace with inflation, said the ILO.
Globally, workers (i.e., everyone that works), the environment (i.e., where we live), and those exploited and extracted from by capitalism are doing it harder and harder. We need action.