Current Affairs 8

600 million new jobs needed in next 10 years

The International Labour Organization released a pessimistic report for the global jobs market in 2012 saying urgent attention is needed to create 600 million newjobs in the next 10 years. Despite strenuous government efforts, the job crisis continues unabated, with one in three workers worldwide, or an estimated 1.1 billion people, either unemployed or living in poverty, said 1LO Director-General. Juan Somavia, in the Global Employment Trends 2012 report. Acording to Somavia, what is needed is that job creation in the real economy must become our number one priority. According to the report, governments must coordinate and act decisively to reduce the fear and uncertainty that is hindering private investment so that the private sector can restart the main engine of global job creation. According to the ILO, 74.8 million youths aged 15-24 were unemployed in 2011, an increase of more than 4 million since 2007 in the total global labour force of 3.3 billion.

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