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Global unemployment to grow by 5 mln in 2008, to almost 195 mln

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Expected economic turbulence in 2008 could push up the worldwide number of unemployed by 5 million people, to almost 195 million, the International Labor Organization said in a report on Thursday.
NEW YORK, January 24 (RIA Novosti) - Expected economic turbulence in 2008 could push up the worldwide number of unemployed by 5 million people, to almost 195 million, the International Labor Organization said in a report on Thursday.

In 2007, the 5% growth of the global GDP led to an increase of 45 million new jobs worldwide, but the number of unemployed still grew by 2.9 million and reached almost 190 million. Overall, a total of 3 billion, or 61.7% of the working-age world population was employed in 2007.

"This year's global jobs picture is one of contrasts and uncertainty," ILO Director-General Juan Somavia said.

"While global growth is annually producing millions of new jobs, unemployment remains unacceptably high and may go to levels not seen before this year," he went on.

Middle East and African countries posted the highest unemployment rates in 2007, with 11.8% and 10.9% of the working-age population out of work, respectively.

The former Soviet republics in the CIS and other non-EU countries in Eastern Europe show the same unemployment rate as Latin America, with 8.5% of people of working age unemployed. Unemployment in Russia stood at 1.5 million in late November, according to the country's statistics service.

Labor markets in developed countries showed signs of stagnation with the lowest number of new jobs in 5 years and 600,000 more people out of a job than in 2006.

The report says that five out of 10 people in jobs that do not require any qualifications are in what it calls "vulnerable employment." A total of 16.4% of all workers, or 487 million people worldwide, earn less than $1 a day, while 1.3 billion people live below the poverty line, earning less than $2 per day.

"What is apparent is that economic progress doesn't automatically translate into new and decent jobs. This shows once again that labor market policies must be at the centre of macroeconomic policies to ensure that economic growth is inclusive and that development involves good, decent work," Somavia said.

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