The Global Labour Market and Unemployment

As geographical barriers are broken and people throughout the Globe begin to compete for the same jobs we can see the beginnings of a Global Labour Force starting to appear. It is hard to say if the labour force will ever truly become global as new dimensions would have to be given in the definition of Labour Force, but at the moment there is definite convergence towards it.

At the moment the countries of the world are still struggling with dragging themselves out of recession so what does this mean for the global labour market as a whole? Unfortunately the labour market is not recovering at the same rate as economic performance this indicates that growth in economic performance does not always mean a growth in employment. This means employment levels are staying at the lows we have seen in recent years, this could be due a number of reasons, for example companies may have laid workers off during the recession and not re-hired them after when there is some improvement leading to the unemployment rates staying reasonably high.

This is a big problem for th youth of society, because of the high levels of unemployment many young people are being put off entering the labour market at all. Although this can mainly be seen as a bad thing there is the positive side, this could lead to them staying education or entering into a training scheme meaning they are increasing their skills base.

In developing countries unemployment, especially in men, is an issue. industrial workers in developing countries were hit hard during the crisis and so there is still high unemployment in these areas. Saying this even in developed countries like Spain there are regions that still have around 30% unemployment.

This article from The Guardian: http://www.guardian.co.uk/business/2010/oct/01/job-market-recession-social-unrest-ilo warns of more upheaval and distress in countries of the world if the employment issue is not addressed. Although the article is a little old i feel the points it makes are still valid.

This video also suggests that unemployment levels are set to stay high in the forseeable future. http://www.youtube.com/watch?v=aU8uKlVyZEw

So it can be said as our globalisation increases and we move closer to a united labour market, we still have to face the unemployment levels that are delaying forward movement.

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