News ID: 176066
Published: 0201 GMT January 20, 2017

Less employment and more ‘junk’ jobs

Less employment and more ‘junk’ jobs

While just eight men are enjoying their huge wealth, equivalent to that of half the world, new forecasts project darker shadows by predicting rising unemployment rates, more precarious jobs and worsening social inequality. To start with, there will be more than 1.4 billion people employed in vulnerable working conditions.

Throughout 2017, global unemployment is expected to rise by 3.4 million due to deteriorating labor market conditions in emerging countries particularly those in Latin America and the Caribbean, the International Labor Organization (ILO) warned in a new report, according to IPS.

Meantime, unemployment is expected to fall in developed countries especially in Northern, Southern, and Western Europe, the United States, and Canada, ILO said in its World Employment and Social Outlook: Trends 2017.

 

Vulnerable conditions

 

In addition, the figure of 1.4 billion people who are employed in vulnerable working conditions is not expected to decrease. That number represents 42 percent of all employment for 2017, warns the report, which was released on January 12, 2017.

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.

On this, ILO Director General Guy Ryder, said, “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 labor market entrants every year.

"According to the report, global gross domestic product growth reached a six-year low last year — well below the rate that was projected in 2015.

Forecasters continue to revise their 2017 predictions downwards and uncertainty about the global economy persists, generating worry among experts that the economy will be unable to employ a sufficient number of people and that growth will not lead to inclusive and shared benefits.”

Since 2009, the percentage of the working-age population willing to migrate abroad for work has risen in almost every region in the world. That trend was most prominent in Latin America, the Caribbean, and Arab States, it noted.

The report also pointed out a number of social inequalities that are creating barriers to growth and prosperity.

Gender gaps in particular are affecting the labor market, ILO noted, and gave specific examples: in Northern Africa, women in the labor force are twice as likely as men to be unemployed. “That gap is wider still for women in Arab States. “

 

Discontent, unrest

 

As a result of these and other social inequalities across a wide range of demographics, the ILO estimated that the risk of social unrest or discontent is growing in almost all regions.

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,” said Ryder.

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.”

ILO called for international cooperation and a coordinated effort to provide fiscal stimuli and public investments to provide an immediate jump-start to the global economy and eliminate an anticipated rise in unemployment for two million people.

   
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