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Global joblessness falls to 6.1%
Financial Express - Bombay,India
New Delhi, Feb 14 For the first time since 2000, global
unemployment has shown a decline — it fell to 6.1% (184.7
million) at the end of 2004 from 6.3% (185.2 million) in
2003.
According ILO’s annual Global Employment Trends released in
Geneva on Monday, the decline, though small, was a
“significant development” as it was the “second time in the
past decade that there was a year-over-year decline in total
unemployment”.
Region-wise, the sharpest decline in unemployment was seen
in the Latin American and Caribbean countries, where it
dropped from 9.3% to 8.6%. In Southeast Asia and the
Pacific, the rate fell to 6.4% in 2004 from 6.5% in 2003.
South Asia recorded a rate of 4.7% from 4.8 %. However, the
rate remained unchanged in East Asia at 3.3% and in West
Asia and North Africa at 11.7%.
It said job growth was weak at 47.7% in 2004, a rise of only
1.7% in the total number of jobs worldwide.
The report said while the robust economic growth rate of 5%
in 2004 played a big role in these positive trends,
“employment generation still remains a major challenge for
policymakers”.
It identified six key challenges for the labour market that
required immediate attention. First, the rehabilitation and
recovery of those who survived the tsunami disaster in Asia.
Second, the HIV/Aids epidemic, which is estimated to be
responsible for the death of 3.2 million people of working
age globally. Third, the fallout of global trade policies on
workers. Fourth, outsourcing as well as insourcing of
manufacturing and service sector jobs and their impact on
both developing and developed countries.
Fifth, the ‘decent work’ deficit in the growing informal
economy, and sixth, the problem of youth unemployment,
particularly in areas of civil conflict. |
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