Global Unemployment to Steady Despite Economic Slowdown, Says International Labour Organization

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Unemployment will stay mostly stable around the world this year and next despite a sharp economic slowdown, reflecting a shortage of workers in rich countries among other factors, the International Labour Organization said Monday.

High prices for food and energy, coupled with rising interest rates, are expected to slow the global economy this year. The World Bank last week said it expects world output to rise by just 1.7%, which would be the third-weakest expansion in nearly three decades, overshadowed only by the 2009 and 2020 downturns. 

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