26/10/2025
Global Job Outlook: G20 Unemployment Rates in 2024
According to recent data, South Africa leads the G20 with the highest unemployment rate in 2024, standing at a concerning 33.7%, reflecting ongoing economic and structural challenges. Türkiye follows at 9.3%, while Argentina ranks third with 8.2%, both facing inflation pressures and fluctuating job markets. These figures underline persistent labor market instability in several emerging economies despite global recovery efforts post-pandemic.
In contrast, the lowest unemployment rates come from some of the world’s most industrialized nations. Japan records the lowest figure at just 2.5%, followed closely by Russia (2.6%) and South Korea (2.9%). These nations benefit from robust manufacturing bases, export-oriented economies, and long-term workforce policies that ensure steady employment. Meanwhile, the United States (4.1%) and Germany (3.4%) remain relatively stable, reflecting mature labor markets.
In Southeast Asia, Indonesia’s unemployment rate sits at 5.2%, slightly higher than China’s 5.1%, signaling that while regional economies are growing, youth and informal employment remain key concerns. Cities like Jakarta, Bangkok, and Manila continue to be employment hubs, with thriving sectors such as digital economy, manufacturing, and creative industries providing new job opportunities. Still, the challenge remains to ensure inclusive growth that bridges urban and rural employment gaps across the region.
