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Worldwide Unemployment Has Crossed 200 Million : ILO

Geneva, Oct 31: The present global economic scenario is leading to a slowdown in employment generation which will further delay the recovery and may ignite social unrest in scores of countries, warned an International Labour

PTI [ Updated: October 31, 2011 21:59 IST ]
worldwide unemployment has crossed 200 million ilo
worldwide unemployment has crossed 200 million ilo

Geneva, Oct 31: The present global economic scenario is leading to a slowdown in employment generation which will further delay the recovery and may ignite social unrest in scores of countries, warned an International Labour Organisation (ILO) report released ahead of G-20 Summit.


The report indicates that 80 million jobs need to be created over the next two years to return to pre-crisis employment rates which includes 27 million in advanced economies and the remainder in emerging and developing countries.

However, the recent slowdown in growth suggests that the world economy is likely to create only half of the jobs needed.

The report titled ‘World of Work Report 2011: Making Markets Work for Jobs' said a stalled global economic recovery has begun to affect labour markets.

On current trends, it will take at least five years to return employment in advanced economies to pre-crisis levels, one year later than projected in last year's report, it said.

The world employment outlook is grim as the unemployment stands at more than 200 million worldwide.

The study says nearly two-thirds of advanced economies and half of emerging and developing economies are once again experiencing a slowdown in employment.

The G-20 leaders will be meeting at Cannes in France on November 3-4 and will try to work out a mechanism to deal with global crisis including sovereign debt problems in eurozone countries.

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