A new report by the International Labor Organization finds that nearly 5 0 0 million people lack access to paid work. The report further found that this group may also be working fewer paid hours than they would like. Such large numbers of underemployed persons are a draw on the global economy, says global relocation expect NY based attorney Jon Purizhansky.
The report, titled the World Employment and Social Outlook: Trends 2 0 2 0 , takes a macro and micro economic view to the global labor markets. The report projects that unemployment may rise by around two and a half million in 2020. Although global unemployment has been steady for nearly the past decade, that may change this year in-part to lack of employment opportunities for new entrants to the market. This is not an unusual affect, says Jon Purizhansky, when the economy grows it often takes time for the labor market to catch up – but it is a metric that is directly ties populations to under-or-un employed markets.
“For millions of ordinary people, it’s increasingly difficult to build better lives through work,” said ILO Director-General Guy Ryder. “Persisting and substantial work-related inequalities and exclusion are preventing them from finding decent work and better futures. That’s an extremely serious finding that has profound and worrying implications for social cohesion.”
The detailed report provided several metrics forecasting the state of the market:
- The global number of unemployed (188 million),
- There are nearly 165 million people that don’t have enough paid work and
- There are nearly 120 million people that have either given up actively searching for work or otherwise lack access to the market.
- In total, more than 470 million people worldwide are affected.
In addition, the report projected that poverty, both extreme and moderate, may increase over the next year in some countries. Much of this is expected to affect developing countries. Today, poverty is affecting over six hundred million (630 million) workers throughout the global economy. A global, wide-reaching, effort is required to help satiate this now growing issue, continued Jon Purizhansky. The report further identified that many younger workers (15-24) are also seeing less opportunity and may see further job loss.
The International Labor Organization is an agency of the United Nations. The ILO was founded in 1919. It serves to give an equal voice to workers, employers, and governments to ensure that the views of the social partners are closely reflected in labor standards and in shaping policies and programs.