The situation of the global labour market

According to the International Labour Organization (short: ILO) the global labour market has become worse as last year. The ILO called the actual situation an “urgent challenge”. Therefore the government should create 600 million new jobs in the next decade.

Globally around 1.1 billion people are unemployed or live in poverty. Furthermore, the ILO says that the creation of new jobs has been pushed by the large emerging economies in Latin America and East Asia and its good economic conditions.

According to the ILO, the reasons for this bad development of this situation are three years of crisis conditions in the global labour market. Moreover, the ILO says that the forecast with the possibility of a deceleration of the growth rate is more pessimistic than in the last years.

The ILO also mentioned the “discouraged workers” who have stopped looking for work because they think that it is hopeless. The number of the “discouraged workers” currently is at 29 million. In the case that these “discouraged workers” are counted as total jobless, the unemployment rate would rise from 6% to 6.9%. In addition, the ILO added that young people are most affected by the job crisis and the future prospects look rather poor.

http://www.bbc.co.uk/news/business-16695096.

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5 thoughts on “The situation of the global labour market

  1. Yes, that’s one point of view. But there are other possibilities. Why should governments be the ones who are creating jobs? There is the well known private sector. Thats one part. And the second one is making job for yourself. How? It’s easy. Just start on your small business. It doesn’t matter if it’s gonna be grocery shop or hand car wash. It’s up to people’s ideas. They can always choose what they want to do and start doing that. Unemployment is a big problem but people can help with the problem solution.

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  2. In my view this is a serious problem which have to be solved.Crisis of unemploment is not just because of replace human work, but also bacause credit crisis.Lot companies are afraid of making new possition, because they are afraid of a new kind of credit crisis and many of them exist on saving regime.So,I quess even if the government won´t support companies in creating a new possitions, our unemployment crisis will be worse and worse.

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  3. How can they create new jobs?
    While it is easy to see how a deficit-financed government program can lead to the creation of a specific job, it is much harder to see how other jobs are destroyed by the diversion of capital and resources.

    Some solutions to ameliorate today’s paucity of jobs could be for example, that we need to make it more attractive for business to produce goods and services in the United States, rather than overseas, using U.S. workers, rather than foreigners. The Administration must also make a few adjustments to its fiscal policy with the aim of creating jobs through faster economic growth. Offering tax credits for education and training would be helpful as well, since domestic employees must add more value to their jobs than their foreign counterparts do, in order to justify their higher rates of pay.
    Unfortunately our economy is so weak and indebted that we simply cannot currently afford many of these projects. The labor and other resources that would be diverted to finance them are badly needed elsewhere.

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  4. I would like to say something about “discouraged workers” . I have mentioned those “discouraged workers” in my article UNEMPLOYMENT. It is truth that people who have lost their jobs are often feeling depressed and they do not feel like searching for a new job. It gets even worse when they do search, but cannot find anything suitable for them, or nobody wants to employ them. The group of people who usually have this problem are either young people who just finished their studies, or people in their 50s who were fired. The worse situation is the one of older people because it is much harder for them to get used to something new (learn new things, follow up the development of technology, etc..). So, very often those people feel depressed and useless and they do not attempt to find another job any longer and many of them became alcoholics, and even worse some became homeless.

    Katarína Hurkalová

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