Report: World Employment and Social Outlook: Trends 2024 Report
By: International Labour Organization (ILO)
Overview: The global jobless rate has decreased to 5.1%, below pre-COVID levels. Labor force participation has also nearly returned to early 2020 levels.
Concerns: Despite improvements, concerns remain regarding the quality of available work.
Threat for 2024: Structural weaknesses like skills gaps and inadequate social protection are identified as ongoing challenges.
India’s Wage Improvement: Real wages in India have shown a “positive” improvement in 2022 compared to 2021, exceeding the rate in all other G20 countries except Mexico.