UN report on Global Unemployment released

The United Nations specialized agency International Labour Organization in its report has mentioned that Global Unemployment is projected to rise by 2.5 million in 2020. The report also mentions that about 165 million people will not have enough paid work and 120 million people will be either searching for work or jobs or otherwise lack access to the labour market. Around a total, 470 million people will be affected by this severe problem worldwide.

Earlier UN report mentioned that the economy has slowed in developed countries and some African countries are more affected. The result is the unavailability of new jobs in the market to induct such a huge mass. The African countries are worst affected due to economic problem and the result is the drop in real income and rise in poverty.

In order to check the problem, the report mentioned that countries should ensure the economic growth and development to happen in a way that leads to the reduction of poverty and better working conditions in the growing countries, through structural transformation, technological upgrading, and diversification.

Month: Current Affairs - January, 2020