International Labour Organization (ILO) data reveals that global job growth remains positive across all income groups.
However, a slight slowdown is observed. The latest data from 2023 shows global job growth at 2.2%. This is a 0.6 percentage point drop from 2021-2022, which saw growth of 2.8%.
During the COVID-19 pandemic, job growth plummeted to -2% in 2020.
(See also: [link to article about renewable energy job growth])
The ILO states that the decline in job growth in 2023 occurred in most income groups, except for lower-middle-income countries.
"The slowdown in job growth occurred primarily in upper-middle-income and high-income countries," the ILO wrote in its report cited on Monday (March 25, 2024).
Although overall job growth slowed in 2023, the ILO notes that female job growth exceeded or equaled male job growth across all income groups.
On the other hand, the ILO emphasizes that labor market and skills imbalances persist in several countries and sectors.
(See also: [link to article about gender inequality in employment])