Global unemployment to rise by 3.4 million in two years, report says
Source: The Guardian
Tuesday 19 January 2016 21.00 GMT
More than 3 million people will become unemployed worldwide in the next two years, making existing jobs vulnerable and fuelling potential social unrest as the global economy slows, a report warns.
The International Labour Organization predicts unemployment will rise by about 2.3 million this year to 199.4 million, and that 1.1 million will be added to the global count in 2017, taking joblessness to more than 200 million for the first time on record.
The ILO, a UN agency focused on labour standards and social protection, said the effects of last years economic slowdown would play out in higher unemployment in 2016, particularly in Asia, Africa, Latin America and the Middle East.
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Its not just unemployment underemployment is going in the same direction. There are lower participation rates in India but also in the US, where people have dropped out of the labour market, and also in the UK, where for some groups there is low participation.
Read more: http://www.theguardian.com/business/2016/jan/19/global-unemployment-3-million-rise-next-two-years-international-labour-organization-report