World Employment and Social Outlook: Trends 2018
As the global economy recovers but with a growing labour force, global unemployment in 2018 is projected to remain at a similar level to last year’s, says a new report by the International Labour Organization (ILO). According to the World Employment and Social Outlook: Trends 2018 , the global unemployment rate has been stabilizing after a rise in 2016. It is expected to have reached 5.6 per cent in 2017, with the total number of unemployed exceeding 192 million persons. As the long-term global economic outlook remains modest despite stronger than expected growth in 2017, the report attributes the positive trend between 2017 and 2018 mainly to the strong performance of labour markets in developed countries, where the unemployment rate is projected to fall by an additional 0.2 percentage points in 2018 to reach 5.5 per cent, a rate below pre-crisis levels.