World Employment and Social Outlook: September 2024 Update
The report highlights a global decline in the labour income share, driven by technological advancements, and persistent youth unemployment, particularly in the Arab States and Africa. It emphasizes the need for policy interventions to distribute AI benefits equitably and improve youth employment and education opportunities.
(Generated with the help of GPT-4)
| Quick Facts | |
|---|---|
| Report location: | source |
| Language: | English |
| Publisher: | International Labour Organization |
| Authors: | Avichal Mahajan, Paloma Carrillo, Rémi Viné, Steven Kapsos, Roger Gomis |
| Geographic focus: | Global, Arab States, Africa, Asia and The Pacific, Latin America and the Caribbean, Europe and Central Asia, Northern America |
Methods
The research employs a combination of data analysis and economic modeling to assess trends in labour income share and NEET rates. It uses historical data from 2003 to 2019, focusing on 36 countries, to analyze the impact of technological innovations on labour productivity and income distribution.
(Generated with the help of GPT-4)
Key Insights
The “World Employment and Social Outlook: September 2024 Update” report examines the decline in the global labour income share, which fell by 0.6 percentage points between 2019 and 2022, contributing to a $2.4 trillion shortfall in labour income in 2024. Technological advancements, particularly in AI, are identified as key factors in this decline, raising concerns about future impacts on inequality. The report also addresses the persistent issue of youth not in employment, education, or training (NEET), with only a modest decline from 21.3% in 2015 to 20.4% in 2024. The Arab States and Africa have the highest NEET rates, with significant gender disparities, as female youth NEET incidence is more than double that of males. The report underscores the importance of policy interventions to ensure equitable distribution of AI benefits and improve youth employment and education opportunities. It calls for increased efforts to address these challenges, particularly in regions with high NEET rates, to achieve sustainable development goals.
(Generated with the help of GPT-4)
Additional Viewpoints
Categories: 2020s_time_horizon | 2024_time_horizon | africa_geographic_scope | arab_states_geographic_scope | asia_and_the_pacific_geographic_scope | english_publication_language | europe_and_central_asia_geographic_scope | global_geographic_scope | latin_america_and_the_caribbean_geographic_scope | northern_america_geographic_scope | ai_advancements | economic_growth | gender_inequality | income_inequality | labour_income_share | labour_productivity | policy_response | technological_impact | youth_neet