There is fear across the World, particularly in emerging economies and some parts of Asia, as latest Report by the International Labour Organization, ILO, has given credence to the prediction that crime and poverty would rise in 2016 all through 2017.
The analysis of the Report noted that the final figure for unemployment in 2015 stood at 197.1 million and forecasted that global unemployment would rise by about 2.3 million this year, reaching 199.4 million. The Report predicted that additional 1.1 million jobless people would likely be added to the global tally in 2017.
The Report further indicated that despite falling unemployment levels in some developed economies, the World Employment and Social Outlook, WESO, shows that the global job crisis is not likely to end, especially in emerging economies.
The Report noted that unemployment rate for developed economies decreased from 7.1 per cent in 2014 to 6.7 per cent in 2015. But in most cases, the improvements were not sufficient to eliminate the jobs gap that emerged as a result of the global financial crisis, noting that the employment outlook has now weakened in emerging and developing economies, notably in Brazil, China and oil-producing countries.
The World Labour Body noted that the rise on unemployment would simply force youths who may be left with no option to join crime, thus making the society uncomfortable for the few ones who are privileged to have jobs and can afford the basic things of life.
Worried by this development, the Director, ILO Research Department, Raymond Torres, challenged policy makers to focus on strengthening employment policies and tackling excessive inequalities, stressing the much evidence that well-designed labour market and social policies are essential for boosting economic growth and addressing the job crisis.
“The unstable economic environment associated with volatile capital flows, still dysfunctional financial markets and the shortage of global demand, continue to affect enterprises and discourage investment and job creation.”
Vulnerable employment is particularly high in emerging and developing economies, hitting between half and three-quarters of the employed population in those groups of countries, respectively, with peaks in Southern Asia (74 per cent) and sub-Saharan Africa (70 per cent).
As regards the informal employment, the Report indicated that informal employment as a percentage of non-agricultural employment exceeds 50 per cent in half of the developing and emerging countries with comparable data. In one-third of these countries, it affects over 65 per cent of workers.
“The lack of decent jobs led people to informal employment, which is typically characterized by low productivity, low pay and no social protection. This needs to change, by responding urgently and vigorously to the scale of the global jobs challenge as a key to successful implementation of the United Nations’ newly adopted 2030 Agenda for Sustainable Development, SDGs,” concludes Ryder.
Meanwhile, a statement attributed to the ILO Director-General, Guy Ryder, noted that “The significant slowdown in emerging economies coupled with a sharp decline in commodity prices is having a dramatic effect on the world of work.
“Many working women and men are having to accept low paid jobs, both in emerging and developing economies and also, increasingly in developed countries. And despite a drop in the number of unemployed in some European Union, EU, countries and the United States, too many people are still jobless. We need to take urgent action to boost the number of decent work opportunities or we risk intensified social tensions,” he added.