The global economy has rebounded strongly from the pandemic, with global income per person about 10 percent higher in 2025 than in 2019—outpacing the recovery after the 2009 financial crisis. However, this recovery has been deeply uneven. Advanced economies have recovered quickly, while many emerging market and developing economies, especially the most vulnerable, continue to lag behind. Limited policy space, high debt, and a tougher global environment are widening income gaps and intensifying the jobs challenge for growing youth populations.