ISLAMABAD: The International Labour Organisation (ILO) says the unemployment rate in Asia-Pacific is expected to remain constant at 4.5 per cent during 2024-25 in view of the socio-economic developments in low- and middle-income economies of the region as poverty rates have decreased and youth education enrolment improved.

At around 4.5pc, the regional unemployment rate fell below pre-pandemic levels in 2023, but this figure conceals heterogeneity across countries and age groups, according to the ‘World Employment and Social Outlook: Trends 2024 Report’ published on Wednesday.

The unemployment rate is expected to remain constant over the next two years and significantly lower than the spike in 2020 of 5.5pc. It is also lower than the pre-pandemic level — 4.7pc in 2019 — and the long-term average of 5.1pc between 2010 and 2019.

The report says joblessness and the jobs gap have both fallen below pre-pandemic levels but global unemployment will rise in 2024, and growing inequalities and stagnant productivity are causes for concern.

Globally, the jobs gap is expected to have numbered 434.8 million persons in 2023, equating to a jobs-gap rate of 11.1pc. This marks a 5.6m decrease in the size of the jobs gap from 2022. Among women, the jobs gap is expected to have been 220.7m in 2023 and, among men, 214.1m.

Published in Dawn, January 11th, 2024

Follow Dawn Business on Twitter, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

Editorial

Kurram atrocity
Updated 22 Nov, 2024

Kurram atrocity

It would be a monumental mistake for the state to continue ignoring the violence in Kurram.
Persistent grip
22 Nov, 2024

Persistent grip

PAKISTAN has now registered 50 polio cases this year. We all saw it coming and yet there was nothing we could do to...
Green transport
22 Nov, 2024

Green transport

THE government has taken a commendable step by announcing a New Energy Vehicle policy aiming to ensure that by 2030,...
Military option
Updated 21 Nov, 2024

Military option

While restoring peace is essential, addressing Balochistan’s socioeconomic deprivation is equally important.
HIV/AIDS disaster
21 Nov, 2024

HIV/AIDS disaster

A TORTUROUS sense of déjà vu is attached to the latest health fiasco at Multan’s Nishtar Hospital. The largest...
Dubious pardon
21 Nov, 2024

Dubious pardon

IT is disturbing how a crime as grave as custodial death has culminated in an out-of-court ‘settlement’. The...