Imagine a world where nearly half the planet is clocking in, yet the story of who’s working, for how much, and against what odds is written in wildly different chapters from India's 565 million-strong workforce to South Africa's staggering 32.9% unemployment.
Key Takeaways
- In 2023, the global workforce totaled approximately 3.5 billion people aged 15 and above
- The US employed workforce reached 161.2 million in September 2024
- EU-27 employment rate for ages 20-64 stood at 75.4% in 2023
- US unemployment rate was 4.1% in September 2024
- Global unemployment rate stood at 4.9% in 2023 for ages 15+
- EU-27 unemployment rate averaged 6.1% in 2023
- US labor force participation rate for prime-age workers (25-54) was 83.4% in September 2024
- Globally, 58.6% of women aged 15+ participated in the labor force in 2023
- EU-27 labor force participation rate for ages 20-64 was 78.2% in 2023
- US median weekly earnings for full-time workers were $1,143 in Q3 2024
- Global average monthly wage was $1,502 PPP in 2023 manufacturing
- EU-27 average hourly earnings index rose 4.2% in 2023
The global workforce grew in 2023, with varied employment rates and wages across major nations.
Employment Rates
- In 2023, the global workforce totaled approximately 3.5 billion people aged 15 and above
- The US employed workforce reached 161.2 million in September 2024
- EU-27 employment rate for ages 20-64 stood at 75.4% in 2023
- India's workforce numbered 565 million in 2023 per PLFS survey
- China's urban employment hit 480 million in 2023
- Brazil's employed population was 101.8 million in Q2 2024
- Japan's workforce size was 67.3 million in 2023
- Germany's employed persons totaled 45.9 million in 2023
- Australia's employment reached 14.1 million in August 2024
- Canada's employed labor force was 20.3 million in September 2024
- South Korea's employed population hit 29.1 million in August 2024
- Mexico's workforce employment was 59.5 million in July 2024
- France's employment rate for 15-64 year-olds was 69.8% in 2023
- UK's total employment stood at 33.3 million in June 2024
- Russia's employed population was 73.5 million in 2023
- Indonesia's workforce employment reached 139.8 million in August 2024
- Turkey's employed persons numbered 32.3 million in July 2024
- Saudi Arabia's workforce employment was 16.7 million in Q2 2024
- Nigeria's employed labor force estimated at 80.5 million in Q3 2023
- South Africa's formal employment totaled 10.4 million in Q2 2024
- Sweden's employment rate for ages 15-74 was 77.2% in 2023
- Poland's employed population reached 16.9 million in 2023
- Argentina's workforce employment was 20.3 million in Q2 2024
- Thailand's employed persons totaled 39.5 million in July 2024
- Netherlands' employment rate for 15-75 was 78.1% in 2023
Employment Rates Interpretation
Despite a global workforce that could populate 450 Earths, these stark national snapshots reveal a planet furiously busy in the office, yet trapped in a complex algebra of opportunity, productivity, and the simple human need to earn a living.
Labor Force Participation
- US median weekly earnings for full-time workers were $1,143 in Q3 2024
- Global average monthly wage was $1,502 PPP in 2023 manufacturing
- EU-27 average hourly earnings index rose 4.2% in 2023
- India's average daily wage for casual laborers was INR 428 in rural areas 2023-24
- China's average urban wage was CNY 108,288 annually in 2023
- Brazil's average monthly formal wage was BRL 3,225 in 2023
- Japan's average monthly contractual cash earnings were JPY 321,785 in 2023
- Germany's median gross hourly earnings were EUR 20.5 in 2022
- Australia's average weekly earnings full-time adults A$1,975 in May 2024
- Canada's average hourly wage was CAD 35.48 in September 2024
- South Korea's average monthly wage was KRW 4,035,000 in 2023
- Mexico's average daily wage formal sector MXN 524 in 2023
- France's average gross annual salary was EUR 39,800 in 2023
- UK's median gross annual earnings for full-time were GBP 35,400 in 2023
- Russia's average monthly nominal wage was RUB 73,709 in 2023
- Indonesia's average monthly wage formal was IDR 3,270,000 in 2023
- Turkey's average monthly gross wage was TRY 24,068 in 2023
- Saudi Arabia's average monthly wage Saudis SAR 11,195 in 2023
- Nigeria's average monthly income formal was NGN 352,000 in 2023
- South Africa's average monthly earnings formal R27,702 in Q2 2024
- Sweden's average monthly salary was SEK 39,900 in 2023
- Poland's average monthly gross wage PLZ 7,238 in 2023
- Argentina's average wage index rose 200% in 2023 adjusted
- Thailand's average daily wage THB 437 in 2023
- Netherlands' average hourly labor costs EUR 42.7 in 2023
Labor Force Participation Interpretation
While the numbers paint a global patchwork of prosperity, they quietly underscore that a comfortable life in one country can be a king's ransom in another, proving that the value of a hard day's work is deeply local currency.
Unemployment Rates
- US unemployment rate was 4.1% in September 2024
- Global unemployment rate stood at 4.9% in 2023 for ages 15+
- EU-27 unemployment rate averaged 6.1% in 2023
- India's urban unemployment rate was 5.4% in 2023-24 PLFS
- China's surveyed urban unemployment rate was 5.2% in 2023 average
- Brazil's unemployment rate fell to 6.2% in Q2 2024
- Japan's unemployment rate was 2.5% in 2023
- Germany's unemployment rate was 5.9% in 2023
- Australia's unemployment rate was 4.1% in August 2024
- Canada's unemployment rate rose to 6.6% in September 2024
- South Korea's unemployment rate was 2.7% in August 2024
- Mexico's unemployment rate was 2.5% in July 2024
- France's unemployment rate was 7.4% in 2023
- UK's unemployment rate was 4.4% in June 2024
- Russia's unemployment rate was 3.0% in 2023
- Indonesia's unemployment rate was 4.8% in August 2024
- Turkey's unemployment rate was 8.7% in July 2024
- Saudi Arabia's unemployment rate for Saudis was 7.7% in Q2 2024
- Nigeria's unemployment rate was 5.0% under new methodology in Q3 2023
- South Africa's unemployment rate was 32.9% in Q2 2024
- Sweden's unemployment rate was 7.6% for ages 15-74 in 2023
- Poland's unemployment rate was 2.9% in 2023
- Argentina's unemployment rate was 6.3% in Q2 2024
- Thailand's unemployment rate was 0.9% in July 2024
- Netherlands' unemployment rate was 3.5% in 2023
Unemployment Rates Interpretation
The world of work paints a grimly humorous global landscape where, against a backdrop of general stability from Japan's 2.5% to South Africa's devastating 32.9%, one can't help but note that even unemployment has its overachievers and its tragically underperforming nations.
Workforce Demographics
- US labor force participation rate for prime-age workers (25-54) was 83.4% in September 2024
- Globally, 58.6% of women aged 15+ participated in the labor force in 2023
- EU-27 labor force participation rate for ages 20-64 was 78.2% in 2023
- India's female LFPR was 37.0% in rural areas per 2023-24 PLFS
- China's LFPR for urban population was 66.8% in 2023
- Brazil's LFPR was 62.8% in Q2 2024
- Japan's LFPR for ages 15+ was 62.3% in 2023
- Germany's LFPR for 15-64 was 79.1% in 2023
- Australia's LFPR was 66.9% in August 2024
- Canada's LFPR was 65.6% in September 2024
- South Korea's LFPR was 64.5% in August 2024
- Mexico's LFPR was 61.6% in July 2024
- France's LFPR for 15-64 was 73.5% in 2023
- UK's LFPR was 74.3% in June 2024
- Russia's LFPR was 60.4% in 2023
- Indonesia's LFPR was 68.4% in August 2024
- Turkey's LFPR was 54.9% in July 2024
- Saudi Arabia's LFPR for Saudis was 54.2% in Q2 2024
- Nigeria's LFPR was 74.5% in Q3 2023 under new metrics
- South Africa's LFPR was 59.8% in Q2 2024
- Sweden's LFPR for 15-74 was 82.6% in 2023
- Poland's LFPR was 68.3% in 2023
- Argentina's LFPR was 65.4% in Q2 2024
- Thailand's LFPR was 71.2% in July 2024
- Netherlands' LFPR for 15-75 was 84.2% in 2023
Workforce Demographics Interpretation
While American prime-age workers are in the office at a respectable 83.4%, the Dutch are putting everyone else to shame with an 84.2% participation rate, proving that a high-functioning workforce might just come with a side of bicycles and tulips.
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