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The International Labour Organization (ILO) warned that an uneven job recovery is posing a challenge to most countries in the world despite the global economy continuing a slow recovery from the financial crisis.
Global unemployment is now predicted to rise from the current 200 million to nearly 208 million by 2015, according to a new report by the ILO. The report found that there are “encouraging signs of recovery” in the labour market, but unemployment rates remained “stubbornly high” as long-term unemployment is also on the rise.
Five years after the financial crisis, the ILO warned that the employment situation remains “uneven”, with emerging and developing economies recovering much faster than the majority of advanced economies.
“These figures present a positive development in many parts of the developing world, but paint a disturbing picture in many high income countries, despite the economic recovery,” said ILO Director-General, Guy Ryder.
“The situation in some European countries in particular is beginning to strain their economic and social fabric. We need a global recovery focussed on jobs and productive investment, combined with better social protection for the poorest and most vulnerable groups. And we need to pay serious attention to closing the inequality gap that is widening in so many parts of the world.”
The ILO also warned that in advanced economies, people were out of work for longer, or were dropping out of the labour market altogether. Raymond Torres, from the research arm of the ILO, urged that more and better jobs are needed to tackle the situation.