The International Labor Organization has downgraded its global employment forecast for 2025, projecting a net increase of only 53 million jobs, 7 million fewer than previously anticipated. This reduction corresponds with a decrease in expected economic growth from 3.2% to 2.8% and highlights the impact of geopolitical tensions and trade disruptions on labor markets. The ILO urges countries to enhance social protection and invest in skill development to mitigate these risks and promote inclusive labor markets in the face of technological changes.
The ILO's downgrade highlights the expected global job creation for 2025, indicative of slower economic growth and rising geopolitical tensions affecting labor markets.
Geopolitical tensions and trade disruptions could have negative ripple effects on labor markets, necessitating immediate action to address these fundamental issues.
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