The United Nation’s International Labour Organisation has issued a dire warning that global unemployment is not just here to stay, but set to rise.
The ILO’s report: Global Employment Trends 2014 says that the weak global recovery has failed to improve labour markets. The report calls for an urgent switch to employment-friendly policies.
Guy Ryder who is Director-General of the International Labour Organization says, “At a moment when we see that there is a degree of modest recovery in the growth rates in the global economy, unemployment will continue to increase in the coming years to the extent that we estimate by 2018 there will be 215 million unemployed.”
The ILO predicts that 200 million new jobs will be created by 2018, but those jobs won’t be enough to keep pace with growing numbers in the labour market so unemployment will exceed 215 million.
Those worst affected by global joblessness are the world’s young and poor.
In Sub-Saharan Africa paid employment is scarce. Just over three quarters of the people there there consider what employment they have as vulnerable.