Browsing: International Labour Organization (ILO)

• 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 …

More than 66 per cent of total employment is Sub-Saharan Africa is from the informal sector, the International Labour Organization (ILO) has revealed, the biggest provider of employment in Africa.

Informal economies are typically characterised by low productivity and non-exportable goods and services.

READ ALSO:Sectors that will grow West Africa’s 15 economies

On the other hand, the sector also provides crucial livelihoods to the most vulnerable of the urban poor.

It is projected that the informal sector is likely to absorb many of the continent’s young employment seekers who are mainly today’s millennial digital natives – educated, learned and very adaptive to global trends.

READ ALSO:Industry Review: Jua Kali sector in East Africa

The Inter Region Economic Network (IREN) recently has held its 18^th Africa Resource Bank Forum in Nairobi in collaboration with the Friedrich Naumann Foundation for Freedom(FNF), under the theme: “The Future of Africa’s Informal …