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.
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