Browsing: GDP growth of Sub-Saharan Africa

• This year, ILO report notes that an additional two million workers are expected to be seeking jobs in Africa and across the globe.
• Last year, the global unemployment rate stood at 5.1 percent, reflecting a modest improvement from 2022 when it was at 5.3 percent, accounting for roughly 191 million people.
• Additionally, the global jobs gap and labour market participation rates showed improvement in 2023. However, a new report highlights that beneath these numbers, fragility is starting to emerge.

An additional two million people are projected to be seeking work this year, potentially raising the average unemployment rate in Africa and across the world by about two per cent to 5.2 per cent from last year’s 5.1 per cent.

In its World Employment and Social Outlook Trends: 2024 report, the International Labour Organization (ILO) notes that this trend will accelerate growing social inequalities, a key pain point for policymakers across …