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The global labor market is experiencing an economic slowdown that is hindering its full recovery from 3.3% in 2023 to 3.2% in 2024, which may directly affect job creation, as detailed in the report "World Employment and Social Outlook: Trends 2025" (WESO Trends), by the International Labor Organization (ILO).
The global unemployment rate remains stable but hides a much more complicated reality for young people, whose unemployment rate is close to 12.6%.
In 2024, nearly 259 million young people (men and women) were considered "ninis" (people who neither work nor study), representing an increase of 1 million and 1.8 million, respectively, compared to 2023. The trend is even more pronounced in low-income countries, where the nini rate exceeds 20% for men and 37% for women.
Factors to consider
The ILO warns that the resilience of labor markets is under pressure due to economic and social uncertainty, influenced by geopolitical frictions and sovereign debt risks. The global employment deficit, which includes unemployed people and those who want to work but cannot, reached 402.4 million in 2024.
The deficit comprises 186 million unemployed people, 137 million people who are part of the potential labor force, and 79 million people who would like to work but have other responsibilities, especially caregiving tasks.
A future with potential
Despite the challenges posed by the labor deficit, there are sectors that show significant growth potential. According to the international organization, areas such as renewable energies and digital technologies represent sources of new opportunities.
Investment in solar, wind and hydrogen energy is generating jobs internationally, although their distribution remains uneven, with a notable concentration in East Asia. Digital technologies also present fertile ground for job creation, but many countries still lack the infrastructure and training to tap this potential.
The trend is evidence of a scenario of uncertainty, but it also opens up a range of possibilities for those who are prepared to adapt to the changes. To this end, it is essential to improve training and the connection between the education system and the needs of the labor market.
Chilean labor market
In Chile, the reality is not much different. The unemployment rate remains moderate, but the number of young "ninis" has increased, reflecting a growing disconnect between the education system, the labor market and the expectations of youth.
According to data from the National Statistics Institute (INE), in the July-September 2024 period, the number of people between 15 and 24 years old who neither study nor work reached 327 thousand, the lowest figure since 2020. In contrast, in the same period of 2023, there were 394 thousand "ninis". In other words, there was an annual decrease of 16.9%.
However, according to experts, this is due to a labor incorporation through informal or temporary jobs.
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