Global unemployment gap to widen

By: Together Abroad 20-01-2015 12:54 PM
Categories: * Daily employment news,

Global employment will deteriorate in the coming five years according to the International Labour Organization (ILO).

The World Employment and Social Outlook Trends 2015 report states that global unemployment is expected to increase by three million in 2015 and by a further eight million in the following four years.

According to ILO, over 201 million were unemployed in 2014 around the world, over 31 million more than before the start of the global crisis.

Across the globe, youth, especially young women, continue to be disproportionately affected by unemployment. Almost 74 million young people (aged 15–24) were looking for work in 2014. The youth unemployment rate is practically three times higher than is the case for their adult counterparts.

The global employment gap, which measures the number of jobs lost since the start of the crisis, currently stands at 61 million. The report highlights that if new labour market entrants over the next five years are taken into account, an additional 280 million jobs need to be created by 2019 to close the global employment gap caused by the crisis.

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