Global Employment trends 2011

Look to the introduction movie on YouTube about global employment trends in 2011: http://www.youtube.com/watch?v=hpR2j6xCESo

The introduction movie was about global employment trends 2011, based on the report of the ILO. In this report, there are several key points. I want to discuss some of these key points (the keypoints about 2011).

When we follow a contraction in 2009, the global economy grew at a rapid pace of 4.8 percent in 2010. In 2011, the recovery is expected to continue, though at a more moderate pace, like 4.2 percent.

The global unempoloyment rate is gambled on 6.1 percent in 2011. That means that there is a global unemployment of 203.3 million. This represents a little improvement over 2010 levels.

When we look to the regional economic and regional labour markets, there are many developments. The total increase in global unemployment between 2007 and 2010 occurred in the Developed Economies and European Union region, while the region only accounts for 15% of the world’s labour force. Unemployment is projected to decline slightly in 2011. Another thing of continued labour market distress is the rapid growth of part-time employment. Following a sharp contraction in GDP growth of Latin America and the Caribbean in 2009, the economic growth expanded explosive in 2010. ‘The outlook for 2011 is continued GDP growth, but at a lower rate of 4.0 per cent, along with a modest decline in the region’s unemployment rate.’  In 2011, the economic growth of East Asia, is projected to 8.6 percent. The forecast about region’s unemployment rate in South-East Asia and the Pacific is to show little change in 2011, while economic growth is expected to slow to 5.3%. The economies in South Asia held up with growing during the crisis. Now it is better.  The region has the highest rate in vulnerable employment (78.5%). For 2011, the key risk is inflation in the price of food and basic commodities. This underlines the importance’s of expanding of social safety nets for poor people. In the Middle East, economic growth in 2011 is projected at 5.1 per cent, with little change expected in the region’s unemployment rate. Now I think, it is impossible, because the unrest in the Middle East. This is bad for the economic growth and also for employment. North Africa was hit harder than other countries during the crisis. The ILO says this about this region: ‘And while the economic outlook for the region is favourable, growth rates are not likely to be sufficient to reduce the large decent work deficits in the near future in any of the North African economies.’ At the moment of writing this blog, there is also a lot of unrest in Libya. This is very very bad for the employment in Libya and also the other countries like Egypt and Tunisia. In the Sub-Saharan Africa, there are many poor workers. The economic outlook is a subject of uncertainty. Maybe it is getting better in 2011, because the economic growth is projected on 5.5% in 2011, but there are still poor workers ($2,- a day per member of the family).

Source: GLOBAL EMPLOYMENT TRENDS 2011, report of the ILO.

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