Job creation rate to rise in poor nations: ILO

Dar es Salaam. The unemployment rate is projected to drop from 5.6 per cent in 2016 to 5.5 per cent this year in developing countries.

This is according to a statement by the International Labor Organisation (ILO) on it’s World Employment and Social Outlook Trends 2017  (WESO). However, the statement shows there is generally increased unemployment globally from 5.7 to 5.8 per cent this year. This percentage represents an increase of 3.4 million in the number of jobless people and further forecast to reach over 201 million with an additional rise of 2.7 million expected in 2018.

The report also shows that vulnerable forms of employment, including contributing family and own account workers are expected to stay above 42 per cent of the total employment accounting for 1.4 billion people worldwide.

The projection explains that the problem is most acute in sub-Saharan Africa, Latin America and the Caribbean because of their lowest level of growth in the past two decades as well as strong growth in the numbers of individuals entering working age.

The report further highlights the number of workers earning less than $3 per day also expected to increase by more than 5 million in the next two years in developing countries.

It further warns that global uncertainty and lack of decent jobs are, among other factors, underpinning social unrest and migration in many parts of the world. ILO Director-General Guy Ryder said “economic growth continues disappointing and underperforming both in terms of levels and the degree of inclusion. This paints a worrisome picture for the global economy and its ability to generate enough jobs.”

We need to ensure that the gains of growth are shared in an inclusive manner”.