Globally, 402 million people are without jobs as of 2024. This includes 183 million people who are actively seeking employment and are classified as unemployed.
The International Labour Organisation (ILO) revealed these figures in its latest World Employment and Social Outlook report.
Gender Disparity in Employment
The report highlights a significant gap in employment rates between genders, especially in low-income countries; such as Nigeria, where unemployment rate for women stands at 22.8%, compared to 15.3% for men. In high-income countries, the figures are lower, with women at 9.7% and men at 7.3%.
The employment rate for working-age women globally is only 45.6%, which is considerably lower than the 69.2% for men, highlighting a global issue of gender inequality in the labour market.
Despite the current challenging statistics, there is a hopeful projection from the ILO report that the global unemployment rate will decrease slightly to 4.9% in 2024, down from 5% in 2023.
Urgent Need for Inclusive Policies
Gilbert Houngbo, the ILO Director-General, stressed the importance of tackling these employment issues. “Today’s report reveals critical employment challenges that we must still address. The labour market remains an uneven playing field, especially for women,” he said.
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He emphasised the necessity of inclusive and socially just policies to achieve a sustainable and equitable recovery.
“We must place inclusion and social justice at the core of our policies and institutions. Unless we do, we will fall short of our objective to ensure strong and inclusive development,” Houngbo stated.
Nigeria’s Employment Crisis
In Nigeria, the unemployment situation is worsening, with the rate increasing to 5% in the third quarter of 2023 from 4.2% in the previous quarter.
This uptick underlines the significant economic challenges the country faces in creating job opportunities for its citizens.
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