Global job market still faltering

By Park Sae-jin Posted : February 2, 2012, 14:06 Updated : February 2, 2012, 14:05
The outlook for the global labor market has worsened from last year, the International Labor Organization says. The organization has called the situation an “urgent challenge” and said governments needed to create 600 million jobs over the next decade.

The ILO said it was more pessimistic because of the weaker global economy. It added that globally some 1.1 billion people were either unemployed or living in poverty.

However, one bright spot was the finding that job creation was pushed up by good economic conditions in large emerging economies in Latin America and East Asia.

“Despite strenuous government efforts, the jobs crisis continues unabated, with one in three workers worldwide, or an estimated 1.1bn people, either unemployed or living in poverty,” said ILO director-general Somavia.

The ILO cited three years of crisis conditions in the global labor market as the reason for its worsening assessment.

The ILO also added that young people continue to be among the worst hit by the jobs crisis and that future prospects for them are bleak. “Judging by the present course, there is little hope for a substantial improvement in their near-term employment prospects,” the report said. Meaning for poorer or Islamic dominated countries, a rise of violence in urban and rural areas could be expected.


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