A. M. 
Courtesy
The International Labor Organization (ILO) has reported a significant increase in informal employment in 2024. The recovery of the labor market following the COVID-19 pandemic has been led by the informal sector, especially in Latin America, where this type of employment has accounted for between 40% and 95% of the increase in jobs from the second half of 2020 to early 2023.
Despite this recovery, the ILO warns that the creation of formal jobs has not been sufficient to meet labor demand, perpetuating the risk of a continued increase in informality.
This phenomenon is worrying, as informal jobs tend to offer less stability and social protection, which negatively affects workers’ well-being.
In 2024, the global unemployment rate is expected to increase slightly to 5.2%, due to global economic fragility and persistent inequalities between countries of different income levels.
In regions such as Latin America, informality remains a significant structural challenge, especially affecting women and youth, who face higher rates of unemployment and participation in informal employment.
The ILO stresses the urgent need to implement policies that promote the formalization of employment and improve working conditions, in order to prevent the employment crisis from becoming more prolonged and generating greater social and economic inequalities.
