Global unemployment increase by 2.5 million united nation report
- 4 years ago
Global unemployment increase by 2.5 million united nation report
After nine years of relatively stable global unemployment, the World Employment and Social Outlook: Trends 2020 puts the rising jobless numbers down to a stagnating global economy.The number of people unemployed around the world stands at some 188 million. In addition, 165 million people don’t have enough paid work, and 120 million have either given up actively searching for work or otherwise lack access to the labour market. a UN report on the economy showed that developed countries are experiencing slow growth, and some African countries are stagnating. The consequence is that not enough new jobs are being created to absorb the growing labour force as it enters the market. In addition, many African countries are experiencing a drop in real incomes and a rise in poverty. Eradicating poverty is an important element of the UN’s 2030 Agenda for Sustainable Development but, according to the ILO study, moderate or extreme working poverty – defined as earning less than the equivalent of $3.20 per day – is expected to edge up in 2020-21 in developing countries.
Inequalities related to gender, age and geographical location continue to plague the job market, with the report showing that these factors limit both individual opportunity and economic growth.
Some 267 million young people aged 15-24 are not in employment, education or training, and many more endure substandard working condition.
The rise in trade restrictions and protectionism, which could have a significant impact on employment, is seen as a potentially worrying trend, as is the significant drop in the share of national income in the form of wages, compared to other forms of production.
After nine years of relatively stable global unemployment, the World Employment and Social Outlook: Trends 2020 puts the rising jobless numbers down to a stagnating global economy.The number of people unemployed around the world stands at some 188 million. In addition, 165 million people don’t have enough paid work, and 120 million have either given up actively searching for work or otherwise lack access to the labour market. a UN report on the economy showed that developed countries are experiencing slow growth, and some African countries are stagnating. The consequence is that not enough new jobs are being created to absorb the growing labour force as it enters the market. In addition, many African countries are experiencing a drop in real incomes and a rise in poverty. Eradicating poverty is an important element of the UN’s 2030 Agenda for Sustainable Development but, according to the ILO study, moderate or extreme working poverty – defined as earning less than the equivalent of $3.20 per day – is expected to edge up in 2020-21 in developing countries.
Inequalities related to gender, age and geographical location continue to plague the job market, with the report showing that these factors limit both individual opportunity and economic growth.
Some 267 million young people aged 15-24 are not in employment, education or training, and many more endure substandard working condition.
The rise in trade restrictions and protectionism, which could have a significant impact on employment, is seen as a potentially worrying trend, as is the significant drop in the share of national income in the form of wages, compared to other forms of production.
Recommended
The Search is On at the UN Global Compact for SDG Pioneers! | United Nations Global Compact
3BL Media
Cisco Launches $10 Million Global Cybersecurity Scholarship to Increase Talent Pool | Cisco
3BL Media