A report of the UN’s International Labour Organization is giving no happy trends to the already battered global employment crisis. The report projects an increase of around 2.5 million in 2020. and almost half a billion people are working fewer paid hours than they would like or lack adequate access to paid work.
Low GDP of global powerhouses will have a direct impact on pushing global economic growth to the negative extremes which means that as the global labour force increases, not enough new jobs will be generated to absorb new entrants to the labour market.
“For millions of ordinary people, it’s increasingly difficult to build better lives through work,” ILO Director-General Guy Ryder said.ILO is a UN agency whose mandate is to advance social justice and promote decent work by setting international labour standards. An earlier UN report pointed out the accumulation of wealth of the 7.9 billion people on the planet is accumulated to the elite 1 per cent, raising alarm in the widening gap on social injustice.
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