The global unemployment rate is to rise modestly from 5.7 to 5.8 per cent in 2017 representing an increase of 3.4 million in the number of jobless people, a new report by the International Labour Organisation (ILO) has revealed.
The number of unemployed persons globally in 2017 is forecast to stand at just over 201 million – with an additional rise of 2.7 million expected in 2018.
The ILO in its report titled: “World Employment and Social Outlook – Trends 2017,” said the pace of labour force growth will outstrips job creation.
According to ILO, the economic growth will continue to disappoint; while deficits in decent work remain widespread.
“We are facing the twin challenge of repairing the damage caused by the global economic and social crisis and creating quality jobs for the tens of millions of new labour market entrants every year,” the ILO Director-General, Guy Ryder, said.
“Economic growth continues to disappoint and underperform, both in terms of levels and the degree of inclusion. This paints a worrisome picture for the global economy and its ability to generate enough jobs. Let alone quality jobs. Persistent high levels of vulnerable forms of employment combined with clear lack of progress in job quality, even in countries where aggregate figures are improving are alarming. We need to ensure that the gains of growth are shared in an inclusive manner.”
The report shows that vulnerable forms of employment – i.e. contributing family workers and own account workers are expected to stay above 42 per cent of total employment, accounting for 1.4 billion people worldwide in 2017.
“In fact, almost one in two workers in emerging countries are in vulnerable forms of employment, rising to more than four in five workers in developing countries,” said Steven Tobin, ILO Senior Economist and lead author of the report.
As a result, the number of workers in vulnerable employment is projected to grow by 11 million per year, with Southern Asia and sub-saharan Africa being the most affected.
The organisation also warned that unemployment challenges are particularly acute in Latin America and the Caribbean where the scars of the recent recession will have an important carry-over effect in 2017, as well as in Sub-Saharan Africa which is also in the midst of its lowest level of growth in over two decades.
Both regions, the ILO says are confronted with strong growth in the numbers of individuals entering working age.