Unemployed to Reach 203.2 Million Worldwide by End-2014 - ReportSociety | May 27, 2014, Tuesday // 12:33| views
Some 4 million new unemployed were registered worldwide in 2013 and 3 more million will join them in 2014, according to the annual report of the International Labor Organization.
In 2013, the unemployed were 6% of the world's population, according to the International Labor Organization (ILO) data. By end-2014, the unemployed are expected to reach 203.2 million people worldwide. The number of unemployed has increased by 30.6 million after the global economic crisis in 2008.
Over the next five years there will be an estimated 213 million new labor market entrants – 200 million in developing countries alone. This raises the issue of youth unemployment. Already, the youth unemployment rate exceeds 12% in developing countries – more than three times the unemployment rate for adults.
More than half of the developing world's workers or nearly 1.5 billion people are in vulnerable employment. These workers are less likely than wage earners to have formal working arrangements, be covered by social protection such as pensions and health care or have regular earnings.
The lack of quality jobs is a central determinant of emigration, especially among educated youth in developing countries. The gap in wages between receiving and sending countries tends to be as high as 10 to 1. In 2013, over 230 million people were living in a country other than the one in which they were born – a rise of some 57 million since 2000 – with South Asia accounting for roughly half of the increase.
The ILO report finds that developing countries which focused on creating high quality jobs during the early 2000s enjoyed significant economic growth after 2007.
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