Global Unemployment to Rise by 3.4 Million in 2017, ILO Report Finds

Geneva, Global unemployment is expected to slightly rise by 0.1 percent to 5.8 percent in 2017 representing an increase of 3.4 million in the number of jobless people, a new ILO report shows.

The number of unemployed persons globally in 2017 is forecast to stand at just over 201 million � with an additional rise of 2.7 million expected in 2018 � as the pace of labor force growth exceeds job creation, according to the ILO’s World Employment and Social Outlook � Trends 2017 (WESO).

“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,” said ILO Director-General Guy Ryder.

“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. Let alone quality jobs. 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. We need to ensure that the gains of growth are shared in an inclusive manner,” he added.

The report shows that vulnerable forms of employment such as contributing family workers and own account workers are expected to stay above 42 percent of total employment, accounting for 1.4 billion people worldwide in 2017.

The number of workers in vulnerable employment is projected to grow by 11 million per year, with Southern Asia and sub-Saharan Africa being the most affected.

Source: Qatar News Agency