30 January, 2012"After three years of continuous crisis conditions in global labour markets and against the prospect of a further deterioration of economic activity, there is a backlog of global unemployment of 200 million," says ILO in its annual report, "Global Employment Trends 2012: Preventing a deeper jobs crisis".
GLOBAL: The ILO also says more than 400 million new jobs will be needed over the next decade to absorb the estimated 40 million growth of the labour force each year.
That means that the world faces the challenge of creating 600 million jobs over the next decade. An additional challenge is to create decent jobs for the estimated 900 million workers living with their families below the US$ 2 a day poverty line, mostly in developing countries.
The jobs crisis continues unabated, said ILO Director-General Juan Somavia. "One in three workers worldwide - 1.1 billion people - is either unemployed or lives in poverty". "What is needed is that job creation in the real economy must become our number one priority".
Some highlights in the report:
- Of the 900 million working poor, about half are living below the US$1.25 extreme poverty line.
- The number of workers in vulnerable employment grew to 1.52 billion in 2011, an increase of 136 million since 2000.
- 50.5 per cent of all women and 48.2 per cent of men are in vulnerable employment.
- In emerging economies in Latin America and East Asia favourable economic conditions have pushed job creation rates above labour force growth, which supports domestic demand.
For more information, see the ILO website here.