About
- The report is released by the International Labour Organisation. The report is published annually.
Key Findings
- The unemployment rates will fall to 4.9% in 2019 and will remain steady in 2020.
- 2 bn out of 3.3 bn people worked keeping their economic security at a risk in informal employment.
- Number of jobless estimated to rise from 172 mn to 174 mn.
- Unemployment rate increased from 5 to 5.6%.
- The global unemployment stood at 11.8% among age group of 15-24 which is much higher than it is among other age groups.
- Much lower labour force participation of women at 48%, compared to 75% for men means that around three in five of the 3.5 bn people in the global labour force were men.
- The poor quality of many jobs also resulted in the fact that in 2018 more than one-quarter of workers in low and middle-income countries were living in utmost or moderate poverty.
- More than 170 mn people are unemployed despite the continued decrease in the unemployment rate.
- Labour underutilization is more prevalent among women.
- Progress towards achieving the targets set out in Sustainable Development Goal 8 has been slower than anticipated.
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- http://www.bankexamstoday.com/2019/07/world-employment-and-social-outlook.html
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