ILO: Unemployment to increase by 8.1 million in 2013-2014

Classroom of the Employment & Training Centre of Wenjiang District. The centre promotes the SIYB (Start and Improve Your Business) program. This program, implemented by the ILO jointly with other international organizations, has created around 200 000 jobs all over China. Chengdu. China. (ILO photo gallery).

Classroom of the Employment & Training Centre of Wenjiang District. The centre promotes the SIYB (Start and Improve Your Business) program. This program, implemented by the ILO jointly with other international organizations, has created around 200 000 jobs all over China. Chengdu. China. (ILO photo gallery).

An International Labour Office (ILO) report published today entitled “Global Employment Trends 2013: Recovering from a second jobs dip”, estimates that unemployment in all 185 member states of the organisation, will rise again this year by 5.1 million and by another 3 million in 2014. The ILO is the international organization responsible for drawing up and overseeing international labour standards, being the only tripartite U.N. agency with government, employer, and worker representatives.

According to this report, “In the fifth year after the outbreak of the global financial crisis, global growth has decelerated and unemployment has started to increase again, leaving an accumulated total of some 197 million people without a job in 2012. Moreover, some 39 million people have dropped out of the labour market as job prospects proved unattainable, opening a 67 million global jobs gap since 2007. Despite a moderate pick-up in output growth expected for 2013–14, the unemployment rate is set to increase again”.

The findings of the report by region are also revealing. “Lower economic activity and job growth even in countries that had initially escaped the second wave of the crisis constitutes a spillover effect of the weak growth in advanced economies in 2012, in particular recession conditions in Europe. Growth decelerated by 1.4 percentage points in East Asia, largely due to a notable slowdown in China, where growth slowed to 7.8 per cent – the slowest rate of growth since 1999. In South Asia, where growth in India slowed sharply to 4.9 per cent, the lowest rate of growth in the country in a decade, the regional GDP growth rate decelerated by 1.6 percentage points. The regions of Latin America and the Caribbean and the Middle East also saw a substantial deceleration”.

In short world economy is still paying its dues to the 2008 financial crisis, entering now in a new recession period without actually having enjoined a full recovery. As usual unemployment hits harder the young. According to the ILO, “young people remain particularly stricken by the crisis. Currently, some 73.8 million young people are unemployed globally and the slowdown in economic activity is likely to push another half million into unemployment by 2014.

The youth unemployment rate – which had already increased to 12.6 per cent in 2012 – is expected to increase again to 12.9 per cent by 2017. The crisis has dramatically diminished the labour market prospects for young people, as many experience long-term unemployment right from the start of their labour market entry, a situation that was never observed during earlier cyclical downturns”.

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

the European Sting Milestones

Featured Stings

How to build a more resilient and inclusive global system

Stopping antimicrobial resistance would cost just USD 2 per person a year

Somalia: UN urges steps to ensure future elections not ‘marred’ by rights abuses seen in recent polls

A Sting Exclusive: EU Commission’s Vice President Šefčovič accentuates the importance of innovation to EU’s Energy Union

Eurozone stagnates after exporting its recession to trading partners

These 4 trends are shaping the future of your job

Rehn ready to sacrifice part of the real economy

JADE visits Lithuanian Junior Initiatives

Nigeria: Top UN officials say more support needed to ease humanitarian crisis and rebuild lives in conflict-ravaged north-east

UN’s Grandi slams ‘toxic language of politics’ aimed at refugees, migrants

Rohingya refugee shelters ‘washed away’ in Bangladesh monsoon rains: UN agency

Brexit: reciprocal visa-free access for EU and UK nationals

Migration crisis update: What are the chances of a fair deal at this EU Summit?

Trump enrages the Europeans and isolates the US in G7

Here’s how drone delivery will change the face of global logistics

Brexit: No deal without marginalizing the hard Tory Eurosceptic MPs

Britain, EU take edgy steps to unlock Brexit talks as the war of words rages

The mother of all fights about inflation, growth and banks

Why the West supports the yen’s devaluation and Japanese over-indebtedness

David Cameron’s formal letter/threat that officially opens pandora’s box for the UK

How we overhauled healthcare amid Venezuela’s crisis

Millions at risk if Syria’s war moves to last redoubt of Idlib, warns senior aid official

Dramatic funding shortages a ‘severe catastrophe’ for people of Gaza: UN Coordinator

UNESCO experts ready to assist reconstruction of iconic Notre Dame, following devastating blaze

Making technology work for 1.3 billion Indians

State of the Union 2017: Juncker’s optimism about EU growth and Brexit’s impact

UN rights experts call on Russia to release Ukrainian film-maker whose life is in ‘imminent danger’

UN chief urges peaceful, free and fair elections in Cameroon

Venezuela: ‘A worrying destabilizing factor in the region’, Bachelet tells Human Rights Council

Italy solves the enigma of growth with fiscal consolidation: The Banking Union

Eurozone: How can 200 banks find €400 billion?

EU Budget 2019: focus on the young, on migration and innovation

The MH17 tragedy to put a tombstone on Ukrainian civil war

As the Universal Declaration of Human Rights turns 70 – is it time for a new approach?

Does hosting a World Cup make economic sense?

Ambassador Zhang wishes from Brussels great success and prosperity for the China-EU relations in the Year of the Dog

How to build a paradise for women. A lesson from Iceland

Australia now has 25 million people. Will it choose to keep growing?

Earth already has a perfect recycling system. So why not use it?

Radioactive nuclear waste is a global threat. These scientists may have a new solution

Eurozone: Even good statistics mean deeper recession

Is Eurozone preparing to abandon austerity and stagnation?

How revealing the cost of coal makes us all better off

At last some rules on banks

“The Arctic climate matters: to what degree?”, a Sting Exclusive co-authored by UN Environment’s Jan Dusik and Slava Fetisov

‘Open, cordial, and frank discussions’ held over future Somalia-UN relationship

EU-US trade agreement talks to be affected by American bugs

Japanese law professor elected new judge at the International Court of Justice

Mining the deep seabed will harm biodiversity. We need to talk about it

Half of Eurozone in deflation expecting salvation from monetary measures

Why the 33,000 staff European Commission did not have a real contingency plan for the refugee crisis?

ILO discusses world of work response to global refugee crisis

Mediterranean migrant drownings should spur greater action by European countries, urge UN agencies

To my Chinese friend

Protests, violence in Haiti prompts international call for ‘realistic and lasting solutions’ to crisis

Higher education becoming again a privilege of the wealthy?

AIESEC Vlog

Combatting terrorism: EP special committee calls for closer EU cooperation

Deutsche Bank slammed by the US-based trio of IMF, Fed and Moody’s

Yemen: Major UN aid boost for ‘up to 14 million’ as country risks becoming a land of ‘living ghosts’

Ethiopia will soon introduce visa-free travel for all Africans

Capital Markets Union: Making it easier for insurers to invest in the real economy

More Stings?

Trackbacks

  1. […] ILO: Unemployment to increase by 8.1 million in 2013-2014 […]

  2. […] ILO: Unemployment to increase by 8.1 million in 2013-2014 […]

Speak your Mind Here

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s