Global Unemployment

Despite many countries beginning to really see the light at the end of the very long tunnel from the economic crisis, global unemployment is set to remain at record highs throughout the year. These records show that more needs to be done to prevent this from reoccurring for years to come. Certain schemes and policies need to be drawn up to get the global labour market back on its feet. Youth unemployment is a particular worry.

Employment for today’s youth has become the world’s priority. Worldwide, 78 million young people were unemployed in 2010, well above the pre-crisis level of 73.5 million in 2007, but down from 80 million in 2009. Unemployment in the 15-24 age group stood at 12.6 per cent in 2010, 2.6 times the adult rate of unemployment.

In January this year, former British MP Gordon Brown warned of the epidemic proportions of youth unemployment faced by the world. In this statement he encouraged joint action by the G20 group of developed and developing nations to tackle rising unemployment.

In several developing countries, such asBrazil,Kazakhstan,Sri Lanka,ThailandandUruguay, unemployment rates have actually fallen below pre-crisis levels.

On a regional level, unemployment inSouth-East Asiaand the Pacific didn’t increase but the number of workers in vulnerable employment rose by 5.4 million since 2007 to 173.7 million in 2009.South Asiahad the highest vulnerable job rate at 78.5 per cent of all jobs in 2009. InEast Asia, youth unemployment remains a major challenge at 8.3 per cent, 2.5 times the adult rate.

In Latin America and theCaribbean, rapid recovery has led to strong job growth but vulnerable jobs have increased. In sub-SaharanAfrica, more than three quarters of workers are in vulnerable jobs and four out of five are living with their families on less than $2 a person per day. InNorth Africa, an alarming 23.6 per cent of economically active young people were unemployed in 2010.

In Central and South-Eastern Europe and the formerSovietStates, unemployment declined to 9.6 per cent after peaking in 2009 at 10.4 per cent, the highest regional rate in the world.

Globally, some 1.53 billion workers were in vulnerable employment in 2009, a vulnerable job rate of 50.1 per cent and broadly unchanged since 2008, in sharp contrast to the steady and significant average decline in the years preceding the crisis. Some 630 million workers – 20.7 per cent of all workers – lived with their families at the extreme $1.25-a-day level in 2009 – 40 million more working poor and 1.6 percentage points higher than projected on pre-crisis trends.

InIrelandwe have many schemes in operation to tackle youth unemployment. These include part-time education, work placement programme for graduates, HEA Schemes, social aspects of unemployment and social welfare payments. I think some of these schemes and other policies from other countries around the world should be taking onboard and implemented to try and tackle the enormous problem of not only youth unemployment but joblessness throughout all ages across the entire world.

References:

http://www.labour.ie/download/pdf/labyouthprebudget.pdf

http://www.un.org/apps/news/story.asp?NewsID=37370&Cr=unemployment&Cr1

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One thought on “Global Unemployment

  1. The alarming high unemployement rate in the world is above all due to the damage of the crisis. Western countries have been really affected by unemployement since the crisis and they have a weak growth so it is difficult to settle it. In developping countries, the youth struggle to find a job more than anyone else because they are numerous. So the states have to deal with it in a more active way and have to find efficiente solutions. In Europe the social welfare system is more developped than in the USA or in developping countries so poverty affected them less but it does not prevent unemployement. Maybe we should set up a global reflation of the economy.

    Reply

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