Global Labour market still wavering

According to the International Labor Organization, the outlook of the global labour market has deteriorated from the last year. The organization has referred this condition as an “urgent challenge” and declared that governments should create over six-hundred million jobs over the next ten years.

The ILO mentioned that the situation is much negative because of the weaker global economy. It also said that world widely over one billion people were either living in poverty and unemployed.

Nevertheless, the good news was that job creation was accelerated by good economic situations in huge emerging economies in East Asia and Latin America.

ILO director-general Somavia referred that “Despite demanding government efforts, the jobs crisis continues increased, with one in three workers worldwide, or an estimated over one billion people, either unemployed or living in poverty.”

The ILO alluded three years of crisis situation in the global labour market to the reason for its declining measurement.

Additionally, ILO mentioned that young people continue to be among the worst hit of the crisis in labour market and that future outlook for them are miserable. The report said “Judging by the present course, there is little hope for a substantial improvement in their near-term employment prospects”.

Source : ILO





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