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Need a job? The world needs 600 million of them

January 24, 2012 |  1:19 pm

Unemployment

Think the United States needs more jobs? It's not alone. The world needs to create 600 million more jobs over the next decade, a new report from the International Labour Organization says.

The U.N. agency predicts that global unemployment won’t budge in the next four years, staying stuck at 6%. It’s even worse for teens and young adults, who have an unemployment rate of 12.7%. Economic recovery has been “short-lived and shallow,” the report found.

To get more people to work, the group recommends more coordination between countries on jobs, more regulation of the financial system, tying stimulus measures to job creation and encouraging businesses to invest in equipment and hire, while avoiding more government debt.

Even if the world manages to come up with 600 million more jobs, that would still leave 900 million workers earning less than $2 a day, the report added. Countries also need to conquer the problem of the working poor, who make up nearly a third of workers worldwide. The ILO provides this chart showing the percentage of people earning less than $2 a day in different regions:

Workingpoorchart
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-- Emily Alpert

Image: International Labour Organization data and projections about joblessness worldwide. Credit: Global Employment Trends 2012 / International Labour Organization

 

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