Core Insights - The International Labour Organization (ILO) revised its global employment forecast for 2023, predicting an addition of 53 million jobs instead of the previously estimated 60 million, resulting in a decrease in the global employment growth rate from 1.7% to 1.5% [1] - Geopolitical tensions and trade disruptions are identified as key factors contributing to the weak economic outlook and slowing employment growth [1] - The report highlights that nearly 84 million jobs in 71 countries are directly or indirectly linked to U.S. consumer demand, which faces increasing disruption risks due to escalating trade tensions [1] - A concerning trend in income distribution is noted, with the labor income share of GDP declining from 53.0% in 2014 to an expected 52.4% in 2024, particularly in Africa and the Americas [1] - If the labor income share remained at 53.0%, global labor income could increase by $1 trillion by 2024, equating to an additional $290 per worker in real purchasing power [1] Employment and Education Mismatch - Despite rising education levels globally, significant educational mismatches persist in the labor market, with only 47.7% of workers possessing qualifications that match job requirements as of 2022 [2] - The proportion of under-educated workers decreased from 37.9% to 33.4% over the past decade, while the share of over-educated workers increased from 15.5% to 18.9% [2]