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Global unemployment hits record

GENEVA: Global unemployment hit a record in 2009 and is likely to remain high over the coming year despite a recovery in the world economy, stated a report released by the International Labour Organisation. The number of jobless people reached nearly 212 million in 2009 worldwide, following an unprecedented increase of 34 million compared to...

SAMAA | - Posted: Jan 31, 2010 | Last Updated: 11 years ago
SAMAA |
Posted: Jan 31, 2010 | Last Updated: 11 years ago
Global unemployment hits record

GENEVA: Global unemployment hit a record in 2009 and is likely to remain high over the coming year despite a recovery in the world economy, stated a report released by the International Labour Organisation.

The number of jobless people reached nearly 212 million in 2009 worldwide, following an unprecedented increase of 34 million compared to 2007, due to the global crisis.

The number of unemployed youth worldwide increased by 10.2 million in 2009 compared to 2007, the largest rise since 1991, according to International Labour Office's annual study, Global Employment Trends.

According to the ILO, the share of workers in vulnerable employment worldwide is estimated to reach over 1.5 billion, equivalent to over half (50.6 per cent) of the world's labour force. The number of women and men in vulnerable employment is estimated to have increased in 2009, by as much as 110 million compared to 2008.

The report also says that 633 million workers and their families were living on less than $1.25 per day in 2008, with as many as 215 million additional workers living on the margin and at risk of falling into poverty in 2009.

Based on International Monetary Fund economic forecasts, the ILO estimates that global unemployment is likely to remain high through 2010.

In the developed economies and the European Union, unemployment is projected to increase by an additional 3 million people in 2010, while it will stabilise at present levels, or decline only slightly, in other regions.

The report says that coordinated stimulus measures have averted a far greater social and economic catastrophe; yet millions of women and men around the world are still without a job, unemployment benefits or any viable form of social protection. PR

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