GENEVA: The worldwide labour market is demonstrating resilience, with the United Nations’ International Labour Organization (ILO) projecting that the global unemployment rate will hold steady at 4.9 percent through 2026, reflecting the economy’s ability to absorb recent shocks and maintain employment levels.
In its latest report, the ILO estimates global unemployment at 4.9 percent, unchanged from the previous two years, representing about 186 million people without work, reports AFP.
The steady figure suggests that the global economy and labour markets have managed to absorb recent economic shocks better than many had feared.
The UN agency highlighted that despite ongoing geopolitical tensions and shifts in global trade, employment levels have remained broadly stable, offering reassurance to governments, businesses and workers alike.
The ILO also noted that global trade continues to play a vital role in job creation, supporting around 465 million jobs worldwide through exports and related supply chains.
According to AFP, ILO research chief Caroline Fredrickson said the current outlook reflects a degree of economic strength and adaptability across regions, even as countries navigate changing trade dynamics.
The organization emphasized that sustained policy efforts could help turn this stability into long-term gains for job quality and wages.
Overall, the report paints a cautiously optimistic picture: while challenges remain, the global labour market is holding firm and continues to provide livelihoods for hundreds of millions across the world.
