212m people will be jobless in the world by 2019: ILO
212m People Will be Jobless in the World by 2019: ILO. As the global jobs market continues to decline in the coming years, rising income inequality and high youth unemployment rate will lead to more social unrest, a report said.
London: As the global jobs market continues to decline in the coming years, rising income inequality and high youth unemployment rate will lead to more social unrest, a report said.
While asserting that a slump in economic growth will mean more jobs will be lost this year with young people bearing the brunt, the International Labour Organization (ILO) warned that by 2019, more than 212 million people will be out of work, up from 201 million now, reported The Guardian.
The findings were published in a report released by the ILO, titled "World Employment and Social Outlook - Trends 2015."
ILO director general Guy Ryder said that 61 million people had already lost their jobs since the 2008 global financial meltdown and predicted that the unemployment rate will continue to rise until the end of the decade.
While stating that social unrest has gradually increased as joblessness persists, the report also warned that it will rise further as increasing inequality undermined trust in government and young people were left frustrated with pay trends failing to match a general improvement in educational attainment.
The challenge of bringing unemployment rate back to pre-crisis levels "now appears as daunting a task as ever," the report said.