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ILO says worlds will need 600 mln new jobs in next ten years

January 24, 2012, 5:04 UTC+3
The report says some 74.8 million young people could not find jobs in 2011
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GENEVA, January 24 (Itar-Tass) – Countries of the world will have to make strenuous efforts to create 600 million new jobs over the next ten years, the International Labor Organization said in a report released here Monday.

“Despite strenuous government efforts, the jobs crisis continues unabated, with one in three workers worldwide, or an estimated 1.1 billion people, either unemployed or living in poverty," ILO Director General Juan Somavia in the Global Employment Trends 2012 report.

"What is needed is that job creation in the real economy must become our number one priority," he said. "Whether we recover or not from this crisis will depend on how effective government policies ultimately are."

According to the ILO estimates some 200 million people around the world are jobless at the moment and, in addition to this, some 900 million people with formal employment in the developing countries earn less than 2 U.S. dollars a day, which puts them de facto below the poverty level.

ILO forecasts suggest that global unemployment will grow by another 3 million people in 2012 and if the global economic growth rate is less than 2%, the unemployment increment may reach 4 million by the yearend.

The report says, however, that should the euro area countries tap a way out of the current crisis the growth of global unemployment may reduce to 1 million in 2012.

The report says some 74.8 million young people could not find jobs in 2011. Although the figures mark a definite improvement versus the 77.6 million in the previous year, it is still 4 million people bigger than before the outbreak of the global economic crisis.

The unemployment level in the age group of 15 to 24 years old stands at 12.7% at present /versus 12.8% in 2009/ and remains three times as high as the averaged unemployment in other age groups.

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