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The eleventh edition of the XILO Monitor on the world of work highlights the global employment divide, with low-income countries facing significant challenges in recovering from the pandemic. The report notes that high inflation and interest rates, along with a growing risk of debt distress, are constraining the ability of developing countries to respond to the current multiple crises. The ILO projects that low-income countries, Africa, and the Arab States are unlikely to recover to pre-pandemic levels of unemployment this year, and the global unemployment rate is expected to fall below the pandemic level in 2023, but this is due to stronger-than-expected resilience in high-income countries rather than a generalized recovery. The jobs gap indicator, which includes all persons who would like to work but do not have a job, shows that the real scale of employment challenges is much higher among women (14.5 per cent) than men (9.8 per cent). The report also highlights that low-income countries face the largest jobs gap rate at 21.5 per cent, while the rate in middle-income countries stands slightly above 11 per cent. High-income countries register the lowest rates, at 8.2 per cent. The report also notes that low-income countries in debt distress face a jobs gap of 25.7 per cent in 2023. The report emphasizes the need for action on jobs and social protection to address the global employment divide and ensure a sustainable and inclusive recovery.
