WASHINGTON: The global unemployment rate is expected 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 persons, a new International Labour Organisation, ILO, report has shown.
According to the ILO’s World Employment and Social Outlook – Trends 2017, WESO, report, the number of unemployed persons globally in 2017 is expected to stand at just over 201 million – with an additional rise of 2.7 million expected in 2018 – as the pace of labour force growth outstrips job creation.
According to ILO Director-General, Guy Ryder: “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. Economic growth continues to disappoint and underperform – both in terms of levels and the degree of inclusion. Worrisome picture.
