The International Labour Organization (ILO) has revised its global employment growth forecast for 2025, lowering the projection from 1.7% to 1.5%. This adjustment translates to an estimated 53 million new jobs, down from the previously anticipated 60 million. The revision reflects a downgraded global economic outlook, with projected GDP growth decreasing from 3.2% to 2.8%.
The ILO attributes this slowdown to a combination of factors, including persistent geopolitical tensions, shifting economic alliances, and heightened trade tensions.
These elements have disrupted global trade and economic stability, leading to a more cautious employment outlook.
Particularly concerning is the vulnerability of approximately 84 million jobs across 71 countries that are linked to U.
S. consumer demand, which are increasingly at risk due to these trade disruptions.
Despite the overall employment growth slowdown, the global unemployment rate is projected to remain near the historic low of 5% achieved in 2024.
However, challenges persist, especially among youth and women, with youth unemployment remaining high at 12.6% and gender disparities in labor force participation continuing to hinder progress toward equitable employment opportunities.
The ILO emphasizes the need for concerted efforts to address these challenges and to create policies that foster inclusive and sustainable employment growth in the face of ongoing global economic uncertainties.
