Pages Navigation Menu

Nigeria news, headlines, events , stories and all that is trending today

Global unemployment rate to rise by 3.4 million in 2017 – ILO

The International Labour Organisation (ILO) said on Friday that the global unemployment rate was expected to rise modestly from 5.7 to 5.8 per cent in 2017.
Guy Ryder, ILO Director-General, said in a statement that the slight increase represented an increase of 3.4 million in the number of jobless people globally.
“The number of unemployed persons globally in 2017 is forecast to stand at over 201 million, with an additional rise of 2.7 million expected in 2018.
“This is because the pace of labour force growth outstrips job creation. We are facing the challenge of repairing the damage caused by the global economic and social crisis.
“We are faced with the challenge of creating quality jobs for the tens of millions of new labour market entrants every year,” the director-general said.
According to the ILO chief, economic growth continues to disappoint and under-perform both in terms of levels and the degree of inclusion.
The director-general said that the situation painted a worrisome picture for the global economy and its ability to generate enough jobs, let alone quality jobs.
Ryder said that continuous high levels of vulnerable forms of employment combined with clear lack of progress in job quality, even in countries where aggregate figures are improving, was alarming.
He said that there was the need to ensure that the gains of growth were shared in an inclusive manner.

The post Global unemployment rate to rise by 3.4 million in 2017 – ILO appeared first on BusinessDay : News you can trust.

This post was syndicated from BusinessDay : News you can trust. Click here to read the full text on the original website.

Do you something awesome to share with the world? Click here to share

Get thousands of free final year project topics and materials sorted by subject to help with your research

Do you ever have any question about anything you wish to ask and get answer? Click here to ask

Follow us on twitter @NigeriaTodayNG

Also, Like us on facebook

Comments

Be the First to Comment!

Notify of
avatar
wpDiscuz

Notice: Trying to get property of non-object in /home/nigtoday/public_html/wp-content/plugins/jetpack/modules/gravatar-hovercards.php on line 238
Download the Nigeria Today app from Play store. Click here download now
Hello. Add your message here.