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In this article: 25 countries with the highest employment rates in the world. We also discussed the state of the world economy. If you want to skip the detailed analysis, please proceed directly to the next page. 10 countries with the highest employment rates in the world.
According to the International Labor Organization’s 2024 Global Employment and Social Outlook Trends Report, just over 5% of the world’s workforce is currently unemployed. While this figure represents an improvement compared to pre-pandemic levels, the outlook remains uncertain, with an additional 2 million people expected to seek work within the next year. At the same time, the global economy is facing its weakest growth period in 30 years, as a recent World Bank report shows.
In particular, disparities in economic conditions continue to exist between high-income and low-income countries, with unemployment rates significantly higher in poorer countries. Despite efforts to tackle challenges such as inflation and informal employment, income inequality continues to widen and poses an obstacle to achieving sustainable economic recovery and social justice, according to ILO Director-General Gilbert Humbo. ing.
Speaking of recovery, in 2022 and early 2023, Meta Platforms, Inc. (NASDAQ:Meta) experienced large-scale layoffs, affecting tens of thousands of employees. The company appeared to be moving into an era of austerity, with team cuts, budget cuts, and reduced perks. But within a few months, Meta Platforms, Inc. (NASDAQ:META)’s trajectory suddenly changed, announcing robust hiring plans for 2024.
Despite recent layoffs, Meta Platforms Inc (NASDAQ:META) expects significant increases in employee and labor costs to support priority areas, particularly as it focuses on higher-cost technical roles. It is. Additionally, Meta Platforms Inc (NASDAQ:META) aims to invest significantly in breakthrough technology initiatives, including the development of a “metaverse” that includes augmented reality and virtual reality ecosystems.
Meta Platforms Inc’s (NASDAQ:META) reversal in hiring strategy reflects a broader trend among tech giants. Salesforce Inc. (NYSE:CRM) is currently embarking on a major rehiring effort, particularly in critical departments such as engineering and data cloud, following extensive layoffs. This resurgence in employment confirms that there is a demand for technology professionals with in-demand skills even in the midst of economic change.
PepsiCo, Inc. (NASDAQ:pep)’s $5 million Preparation and Empowerment Program (PREP), now in its third year, aims to expand career opportunities for more than 3,000 young people on Chicago’s South and West Sides. Since its founding in 2021, PREP has impacted more than 2,200 youth with her career exposure, paid internships, certifications, and full-time employment opportunities. This year, PepsiCo (NASDAQ: PEP) is donating his $250,000 to a variety of local nonprofits, including Imagine Inglewood If, Girls in the Game, Southwest Organizing Project, and more. By donating, we reaffirmed that commitment.
One notable partnership is with Ladies of Virtue (LOV), which boasts a 100% college acceptance rate for high school seniors. PepsiCo, Inc. (NASDAQ: PEP) partnered with her LOV to fund STEM-focused internships and career exploration experiences. In addition, the Southwest Organizing Project (SWOP) has launched a workforce program aimed at enrolling 100 community members each year and projects an annual revenue increase of $4 million to be reinvested into the community.
PepsiCo’s (NASDAQ:PEP) 2024 National Employment Day initiative also aims to advance Canada’s workforce by hiring more than 800 employees. Positions range from warehouse workers to sales representatives and are spread across cities such as Calgary, Vancouver, Montreal, and Ottawa. Successful applicants will receive up to $15,000 in awards, making this a potentially lucrative opportunity.
Despite training efforts around the world, AI is poised to revolutionize the global economy. 40% A number of jobs around the world are facing the effects of being replaced or augmented. While developed countries stand to benefit from the integration of AI, they also face increasing risks, with around 60% of jobs becoming vulnerable. In contrast, emerging market and low-income countries face less immediate disruption but lack the infrastructure and skilled workforce to exploit the full potential of AI.
The emergence of AI has the potential to widen income and wealth inequality within countries. Those who can take advantage of AI may be able to leave others behind and realize increased productivity and wages. Without active policies to address these disparities, AI could exacerbate existing social tensions. To mitigate these risks, comprehensive social safety nets and retraining programs are essential to ensure a more inclusive transition to an AI-driven world.
A collage of employee headshots that showcases the company’s diversity and innovation.
our methodology
for us List of countries with the highest employment rates in the worldthe OECD employment rate (total, percentage of working age population). To take advantage of the latest information available, we relied on the OECD’s employment dataset for Q3 2023. The list appears below in ascending order.
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here is the list Countries with the highest employment rates in the world:
25. Luxembourg
Employment rate for Q3 2023: 70.57
Luxembourg boasts a robust and prosperous economy characterized by stable growth, minimal inflation and significant levels of innovation. Unemployment rates typically remain low, but rose to 6.1% by May 2012, mainly as a result of the 2008 global financial crisis. In 2011, Luxembourg was ranked the second richest country in the world, with a GDP per capita of $80,119, according to the IMF. On a purchasing power parity (PPP) basis.Luxembourg’s GDP in 2022 was her $81.64 billion.
24. Slovak Republic
Employment rate for Q3 2023: 71.72
In 2023, despite having a small population of 5 million people, the country achieved impressive economic status and was ranked 46th as the richest country. This is reflected in the per capita gross domestic product (GDP) based on purchasing power parity, which was $42,228. Furthermore, the overall GDP reached $127,533 million.
23. Latvia
Employment rate for Q3 2023: 71.91 Over the past five years, Latvia’s economy and employment have continued on an upward trajectory despite relatively high unemployment rates. The country has seen a significant increase in the number of people with higher education, and the prospects for Vocational Education and Training (VET) graduates remain promising. However, future projections suggest that this trend may be reversed due to the challenges posed by the aging of Latvia’s population. While employment may increase in certain sectors such as accommodation and food, transport and storage, and health and social care, the overall workforce and working-age population (15-64 years) will grow by 2030. is expected to decrease.
22.United States of America
Employment rate for Q3 2023: 72.04
The United States is an excellent mixed economy, distinguished by its high level of development and progress. It boasts the world’s largest nominal GDP and ranks second only to China in terms of purchasing power parity (PPP).It is ranked 22nd in Employment rate by country.
21. Poland
Employment rate for Q3 2023: 72.16
After COVID-19, Poland’s resilient economy recovered strongly in 2021, with a GDP of $679.4 billion. This growth was driven by EU investment funds, a stable labor market, and improved poverty and growth policies.Poland is one of them Countries with the lowest unemployment rates in Europe.
In Poland, Procter & Gamble Co. (NYSE:P.G.) and Intel Corporation (NASDAQ:INTC).
20. Slovenia
Employment rate for Q3 2023: 72.27
Slovenia has a developed economy and holds the title of the richest country among the Slavic countries in terms of GDP per capita. Known for its high human capital, Slovenia ranks among the world’s top economies in this respect.
19. Portugal
Employment rate for Q3 2023: 72.77
The Portuguese economy is ranked 34th in the World Economic Forum’s 2019 Global Competitiveness Report. It is highly dependent on intra-EU trade. In 2020, 71.4% of exports went to EU countries, and 74.6% of imports came from the EU. This is one of the. Countries with the highest employment rates in 2023.
18. Lithuania
Employment rate for Q3 2023: 73.80
Lithuania is a highly developed country with a prosperous economy and ranks 35th on the Human Development Index. It is a member of the European Union, Council of Europe, Eurozone, Nordic Investment Bank, Schengen Agreement, NATO and OECD.
17. Ireland
Employment rate for Q3 2023: 73.84
With a GDP per capita of $104,038.9 in 2022, Ireland has promising contributions to high-tech and financial services. The average annual salary in Ireland is €44,202, which equates to approximately $48,833, while the minimum wage for workers over the age of 20 is approximately $12.40 per hour. This is one of the. Country with the highest minimum wage in the world.
16. Finland
Employment rate for Q3 2023: 73.86
While Finland has one of the highest employment rates, it faces a growing shortage of workers in critical sectors such as healthcare and construction, and is taking an aggressive approach to recruiting skilled professionals around the world. ing. Amid growing interest from abroad, Finland received 7,343 applications for work and residence permits in early 2023.
15. Austria
Employment rate for Q3 2023: 74.00
Austria, which has one of the highest employment rates, is still planning to attract foreign tourists. 15,000 skilled workers From countries outside the EU, annually until 2027 through the red-white-red card system. This reform aims to ease access to the labor market.That’s one of them Countries with high foreign employment rates.
14. Hungary
Employment rate for Q3 2023: 74.69
The first joint job fair organized by UNHCR and IOM in Budapest not only promoted employment opportunities, but also addressed the institutional barriers that prevent refugees and migrants from accessing the Hungarian job market. The event, which had over 150 attendees, provided a platform for individuals to connect with employers, receive expert advice on resumes and job searches, and learn about worker rights.
13. Czech Republic
Employment rate for Q3 2023: 75.07
As of 2023, the Czech Republic’s per capita GDP is $51,329 in PPP and $29,856 in nominal terms. Her GDP growth rate in 2017 was 4.5%, her unemployment rate in 2016 was as low as 2.4%, and she was ranked 27th in economic freedom and 31st in global innovation.
12. Canada
Employment rate for Q3 2023: 75.63
Canada’s unemployment rate rose slightly to 3.8% in November, but added 24,900 jobs, more than expected. The Canadian dollar rose slightly and remained stable near a two-month low against the US dollar. This is one of the. Countries with the highest employment rates in 2024.
11. Estonia
Employment rate for Q3 2023: 76.07
In 2023, Estonia’s labor force participation rate, employment and population will increase, with the number of employed people reaching 694,600, an increase of 17,200 from the previous year. Notably, the influx of Ukrainian refugees made a major contribution to this growth. The number of employed women increased by 11,000 to 346,700, and the number of employed men increased by 6,200 to 347,900.
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Disclosure: None. 25 countries with the highest employment rates in the world Originally published on Insider Monkey.
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