Global Jobs Growth Will Halve in Challenging 2023: ILO

Global Jobs Growth Will Halve in Challenging 2023: ILO
A pedestrian passes a "Help Wanted" sign in the door of a hardware store in Cambridge, Mass., on July 8, 2022. Brian Snyder/Reuters
Reuters
Updated:

LONDON—Global employment growth is expected to slow down sharply to 1 percent this year compared to 2 percent in 2022, hit by the economic fallout of the war in Ukraine, high inflation, and tighter monetary policy, the International Labor Organization (ILO) said on Monday.

At the same time, the number of unemployed people in the world is expected to rise by 3 million to 208 million in 2023, while inflation will eat into real wages, the ILO said in a report on global trends.