The global unemployment rate stands at 5.2% but, the rate varies significantly across countries, with the highest rates reaching 35.7% and 28% in Eswatini and South Africa respectively.

Joblessness and the jobs gap – which is the number of persons without employment who are interested in finding a job, have both increased post-pandemic.

The labour market outlook and global unemployment will thus both worsen. In 2025, every other month, an extra two million workers are projected and expected to be looking for jobs, raising the global unemployment rate.

Disposable incomes have declined in the majority of G20 countries and generally, the erosion of living standards resulting from inflation is, "unlikely to be compensated quickly”. Furthermore, important differences persist between higher and lower income countries.

While the jobs gap rate in 2024 was 8.2 per cent in high-income countries, it stood at 20.5 per cent in the low-income group. Similarly, while the 2023 unemployment rate persisted at 4.5 per cent in high-income countries, it was 5.7 per cent in low-income countries moreover, working poverty is likely to persist.

Despite quickly declining after 2020, the number of workers living in extreme poverty (earning less than US$2.15 per person per day in purchasing power parity terms) grew by about 1 million in 2024.

The number of workers living in moderate poverty (earning less than US$3.65 per day per person in PPP terms) increased by 8.4 million in 2024.

Income inequality has also widened, and the erosion of the real disposable income aggregates demand for a more sustained economic recovery.

Thus, the growing inequalities and stagnant productivity are causes for a huge concern hence the rates of informal work expected to remain static, accounting for around 58 percent of the global workforce in 2025. The levels of poverty are on the increase especially in third World economies, amidst a global lack of capital to kick start or empower individuals and business to sustainable livelihoods.

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