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.