Analysis: Global Labour Market & India – ILO Report 2025
- Global Trends
- Slower recovery in global labour markets post-COVID-19, despite overall employment growth keeping unemployment stable at 5% in 2024.
- Youth unemployment remains high at 12.6%, showing persistent challenges in integrating young workers.
- Informal work and working poverty returned to pre-pandemic levels, particularly affecting low-income countries.
- Challenges: Geopolitical tensions, climate-related costs, unresolved debt, and inflation affecting real wages and labour market stability.
- India’s Exception
- India shows high GDP growth: 6.9% in 2024, forecast 6.4% in 2025, outpacing global averages.
- Growth driven by monetary easing, domestic demand, and public investment.
- Southern Asia’s labour force participation increased, especially among women, highlighting India’s role as a growth engine in the region.
- Labour Force Participation & Gender Gap
- Global observation: Low-income countries have declining LFPR; high-income countries show increases, mostly among older workers and women.
- Gender gaps remain wide worldwide; fewer women in workforce limits living standards.
- India sees notable rise in female participation, indicating progress but continued challenges in gender equality.
- Global Jobs Gap
- Estimated 402 million peoplewant work but cannot find employment:
- 186 million unemployed, 137 million temporarily unavailable, 79 million discouraged workers.
- Highlights structural issues in employment, particularly in low-income countries.
- Policy Recommendations
- Boost productivity through skills training, education, and infrastructure.
- Expand social protection: social security access, safe working conditions to reduce inequality.
- Leverage private funds and diaspora remittances for local development.
- Decent work & productive employment essential for social justice and achieving SDGs.
Updated - January 16, 2025 11:56 pm | The Hindu