BERLIN, May 31 (Reuters) – A global employment divide between high-income and low-income countries is worsening as rising debt levels hit developing countries disproportionately, the International Labour Organisation (ILO) said on Wednesday.
It urged nations to offer global financial support on job creation and social protection to help narrow the gap.
While global unemployment is expected to fall below pre-pandemic levels to 191 million this year, a rate of 5.3%, low-income countries lag in the recovery process, said the ILO’s 11th edition of the Monitor on the World Of Work.
Low-income countries in Africa and the Arab region are unlikely to recover to pre-pandemic levels of unemployment this year, with the jobless rate in North Africa expected to be 11.2% compared to 10.9% in 2019, said the report.
Rising debt levels compound challenges facing developing states, making policy intervention more difficult, said the ILO, which is launching a Global Coalition for Social Justice to push social justice as a national, regional and global policy.
“Investing in people through jobs and social protection will help narrow the gap between rich and poor nations and people,” said ILO Director-General Gilbert F. Houngbo.