May 29 Reuters The global unemployment rate is expected to fall slightly to 4.9 this year from 5.0 in 2023, even as inequalities in labour markets persist, the International Labour Organization ILO said on Wednesday.

The ILO, a United Nations agency, in January estimated unemployment to edge up to 5.2 due to an expected rise in joblessness in advanced economies.

The revision is mainly due to lowerthanexpected unemployment rates in China, India, and highincome countries reported so far this year, the agency said.

China39;s growth wasn39;t quite as poor as had been anticipated late last year as the Chinese authorities have once again managed to keep the ball rolling a little longer there, said Richard de Chazal, macro analyst at investment banking group William Blair.

The downward trend for joblessness is expected to flatten in 2025, with unemployment remaining at 4.9, the report said.

Global economic growth has been slightly more robust than expected in the first months of 2024, particularly in the United States, while inflation has been decreasing, giving a breather to household incomes.

The lagged effects of higher interest rates have been a slower burn, in large part because both the corporate sector and the household sector locked in lower rates and have been much less sensitive to Federal Reserve39;s tightening this time, de Chazal added.

The International Monetary Fund in April raised its 2024 forecasts for global growth to 3.2 from the 3.1 estimated in…