The International Labour Organization (ILO) released its annual World Employment and Social Outlook report on Tuesday. The ILO said that the global unemployment rate is expected to decline to 5.7% in 2017 from 5.8% in 2014-16, driven by job creation in the U.S. and Europe.

The unemployment rate for developed economies declined to 6.7% in 2015 from 7.1% in 2014.

According to the ILO, emerging economies pose risk to the world of work.

"The significant slowdown in emerging economies coupled with a sharp decline in commodity prices is having a dramatic effect on the world of work," ILO Director-General Guy Ryder said.