A recent report released by the UN stated nearly half a billion people are currently unemployed and the numbers are reported to rise. According to the report, there are more than 473 million people who lack employment opportunities to meet their basic needs, a report by the International Labour Organisation (ILO) revealed. Read the complete report here:
BREAKING: We've just released our annual flagship report, which explains why it's becoming increasingly difficult for people to build better lives through their work.— ILO (@ilo) January 20, 2020
Read about it here: https://t.co/I3cNVDYS2E pic.twitter.com/D3uNEiISDN
The report also added that global unemployment is set to rise in the coming times after remaining stable for nine years. Currently, the number of unemployed people around the world stands at 188 million. In addition to that, some 165 million people don’t have enough paid work and 120 million have either given up actively searching for work or otherwise lack access to labour work, the report stated.
While speaking to international media, ILO Director-General Guy Ryder said, 'for millions of ordinary people it’s increasingly diﬃcult to build better lives through work'. He added that persisting and substantial work-related inequalities and exclusion are preventing them from ﬁnding decent work and better futures before saying 'it's an extremely serious ﬁnding that has profound and worrying implications for social cohesion.'
Earlier in January, a UN report declared the economy showed that developed countries are experiencing slow growth and many African countries are in a struggling condition. As a consequence of which, not enough jobs are being created to absorb the growing labour force as it enters the market. The report also revealed that many African nations are experiencing a drop in real incomes and a rise in poverty.
The report comes after the UN said last week that trade tensions risked dragging down global growth this year, in a development that would derail international efforts to tackle poverty in low-income countries and distract from the task of decarbonising the world economy.